Gulfstream To Trim Workforce

Gulfstream Aerospace is reducing its workforce by about 3 percent and its contractor workforce by 600 people, the company confirmed. The Savannah, Ga. manufacturer, which had expanded its employee and contractor workforce to more than 16,500 people, said the company is “streamlining our business to position Gulfstream for continued success.”

The employee layoffs will involve indirect support staff throughout the business. With the contractors, the company added, “We typically manage fluctuating workforce requirements with contract labor to maintain maximum flexibility.”

Gulfstream is making the adjustments despite its current strong financial footing, with the most recent quarter marking the highest-ever quarterly revenue and the fifth consecutive quarterly profit exceeding $400 million. Book to bill, however, dipped slightly below 1 for the third quarter, and backlog, at $13.6 billion, was down $400 million from the previous quarter.