Spirit AeroSystems Announces Salaried and Management Workforce Reductions

WICHITA, Kan., Aug. 29, 2013 /PRNewswire/ — Spirit AeroSystems, Inc. (NYSE: SPR) today announced additional workforce reductions in Wichita, Kan., to begin next month. The actions are the result of an ongoing workforce assessment designed to balance the workforce, reduce overhead costs, increase efficiency and drive improved performance. Reductions will be accomplished through a voluntary retirement program, a voluntary layoff program, and following the voluntary exercise, a layoff of management and salaried employees.

Today’s announcement represents continued strategic moves by the company to become more competitive in a cost-sensitive environment. Final numbers of employees impacted have not yet been determined. Details will be shared directly with eligible and included employees in the coming weeks. The company will offer a lump sum severance payment and career transition services to employees who are laid off, and a lump sum severance payment and healthcare bridging option to employees who are eligible for the voluntary retirement program.

Spirit remains a strong company with a robust backlog of approximately $38 billion.