Hawker Beechcraft Suspends 401(k) Contributions | Aero-News Network
Aero-News Network
RSS icon RSS feed
podcast icon MP3 podcast
Subscribe Aero-News e-mail Newsletter Subscribe

Airborne Unlimited -- Recent Daily Episodes

Episode Date

Monday

Tuesday

Wednesday

Thursday

Friday

Airborne On ANN

Airborne 05.18.15

Airborne 05.19.15

Airborne 05.20.15

Airborne 05.21.15

Airborne 05.22.15

Airborne Hi-Def On YouTube

Airborne 05.18.15

Airborne 05.19.15

Airborne 05.20.15

Airborne 05.21.15

Airborne 05.22.15

 

Fri, Aug 21, 2009

Hawker Beechcraft Suspends 401(k) Contributions

Layoff Announcements Expected Friday

After learning of the departure of three top-level executives, employees at Hawker Beechcraft have been told the company is ceasing its 401(k) contributions to employee accounts, and that a workforce reduction will be announced Friday.

The Wichita Business Journal reports that earlier this week, George Nguyen, senior vice president for operations; Charles Mayer, vice president for marketing; and Gail Lehman, vice president, general counsel and secretary all announced their resignations Tuesday. In the same memo, Chairman and CEO Bill Boisture said he would be taking a 10 percent pay cut.  The following day came the announcement of suspension of the 401(k) match, which will be in effect through next year. The company said the benefit match would be re-evaluated in 2011. Employee contributions to health care premiums will also be increased in October.

Finally, the memo said that the next round of layoffs would be announced Friday. While most would come from what it called "non-bargaining unit employees", some union members could also be affected. Additional furloughs are also part of the package that Hawker Beechcraft says are designed to "match our business demands and revenues.”

FMI: www.hawkerbeechcraft.com

Advertisement

More News

Airborne 05.21.15: Unlawful Photography? REALLY?, VA Flt Benefits, Pilatus 5M

Also: Aerion Takes Orders, API Partner EAA, 'Fly Along' Case Resolved, BASE Jump Tragedy, Electromagnetic Catapult, Gulfstream G650ER, Piper M500 With the FAA still stuck in the mu>[...]

AD: Airbus Helicopters (Previously Eurocopter France) Helicopters

AD NUMBER: 2015-10-05 PRODUCT: Airbus Helicopters (previously Eurocopter France) Model AS365N3, EC155B, and EC155B1 helicopters with an external life raft in the footsteps with cer>[...]

ANN's Daily Aero-Linx (05.22.15)

MILAVIA MILAVIA, military aviation, is what you are going to find here! The site starts with modern combat aircraft, focusing on main fighters, ground attack aircraft and bombers t>[...]

ANN's Daily Aero-Term (05.22.15): Flap Deflection Angle

The angle between the deflected flap and the chord line.>[...]

Aero-News: Quote Of The Day (05.22.15)

“The restrictions that the town has adopted, by its own calculations, would prohibit a significant share of all airport operations.” Source: Excerpt from a complaint co>[...]

blog comments powered by Disqus



Advertisement

Advertisement

Podcasts

Advertisement

© 2007 - 2015 Web Development & Design by Pauli Systems, LC