I have now seen several people on here mention more production layoffs that are supposedly about to take place at L3.
I have been trying to find more information on it, but have not had any luck so far.
Any chance somebody here can provide more info about it?
Greenville facility has not seen a substantial contract in over 9 years. The legacy contract is only good for 12 more years. I do not see it being renewed. The fleet is 50 years or older. I see new planes. I see we are no longer competitive. When you have a team leader, a manager, a supervisor, and a couple of directors for each segment with the mentality we have this much money, and every person who is working a contract, those warm bodies earn more money towards the contract billing....its almost like they are double dipping funds, instead of delivering under cost or budget.
Folks it doesnt look good for the company as a whole. Corporate has played the investment game in the past to acquire the technologies that are used in our systems to remain competitive. We have reached our saturation point. There is currently nothing to acquire that we can afford. We are currently seeking investors. Our credit rating is now Baa3.... no longer stellar. The baby boomers had great success. Now they are leaving.....we are going to fall to pieces. Embrace change!
Don’t count on that, bet there is another one in August or September.
Another layoff is not in the headcount forecast.
Defensenews.com has an article on L3. It doesn't look like it's very favorable to the aircraft industry the new CEO wants to expand in Europe in the Middle East. It looks like the old school industry of modifying aircraft isn't what they want to do anymore.