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Gulfstream to Cut 6 Pct Work Force

October 26, 2001

SAVANNAH, Ga. (AP) _ Gulfstream Aerospace plans to cut 6 percent of its work force because of a drop in jet orders.

The luxury business-jet maker did not specify in Thursday’s announcement exactly how many of its 8,000 employees would be cut, but 6 percent would amount to about 480 jobs. It laid off 200 people last fall.

Gulfstream, a subsidiary of General Dynamics Corp., also said it will cut production by 15 percent in Savannah.

General Dynamics’ chief financial officer Michael J. Mancuso said the company is trying to ``right-size our operation.″

Mancuso said an expected drop in orders is causing Gulfstream to cut staff. The company averages about 70 planes per year and still has a backlog order of nearly $9 billion worth of jets.

Last fall, the firing of 200 mostly longtime employees spawned an age discrimination lawsuit against the company. That case is pending in U.S. District Court in Atlanta.

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On the Net:

http://www.gulfstream.com

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