Anyone has more info on the plans to reorg next year and is it going to result in layoffs?
4 replies (most recent on top)
John Scannel expects business to turn around after this year but he is probably counting on republican for president. Making the company lean will keep them in the black for now. However, without an increase in spending from the government for space and defense programs there is not much to rely on. This business is downsizing now. I recommend anyone who may want to work here to find somewhere else to work. Even benefits like health care is costly. Within a year or two Moog will be like any other company. They will also treat you like a resource and not a person. Good luck to anyone working there in the future.
Cuts will continue to keep profits up and high stock price. Eventually there will be nothing left to cut so Moog will be sold to the highest bidder. Moog no longer a nice place to work
If sales revenues continue to slide, more layoffs will follow.
Space and Defense Group layoffs are being planned
Satellite related sales were down 27% last quarter, check the Moog investors website