Tuesday, August 25, 2009
More layoffs for Hawker Beechcraft
Hawker Beechcraft executives have eliminated about 300 jobs, released three vice presidents, adjusted employee benefits, and reduced the salary of CEO Bill Boisture, Jr., from $630,000 to $567,000 in effective September 7. The moves, include some cutbacks in employee benefits. The company is also suspending company contributions to employee 401K plans. They also have raised employee contributions to health care premiums for nonunion employees.