Spirit AeroSystems Layoffs 2024: What to Know About the Latest SPR Job Cuts


  • Spirit AeroSystems (SPR) layoffs are coming for up to 405 of the company’s employees.
  • This will affect its Wichita facility workers in the coming week.
  • Slowing orders from Boeing (BA) are behind the job cuts.
Spirit AeroSystems Layoffs - Spirit AeroSystems Layoffs 2024: What to Know About the Latest SPR Job Cuts

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Spirit AeroSystems (NYSE:SPR) layoffs are a hot topic on Friday after the Boeing (NYSE:BA) supplier announced plans to cut as many as 450 jobs.

According to Spirit AeroSystems, these layoffs will affect workers at its Wichita facility. The company says the headcount reduction is due to slowing demand for its commercial airplane parts.

Boeing is at the center of this decrease in orders. The company has reduced its deliveries amid a series of incidents that have called into question its aircraft safety. Spirit AeroSystems’ deliveries to the company dropped 31% in Q1 compared to the same time last year.

Spirit AeroSystems notes that the layoffs will affect between 400 and 450 of its hourly employees. The job cuts are expected to start in the coming weeks, and workers will learn more about them then. It’s worth mentioning that the Wichita factory employs 12,600 people, reports CNBC.

Spirit AeroSystems Extends Layoffs Trend

Spirit AeroSystems is far from the only company that has announced layoffs this year. Many businesses are reducing headcounts in an effort to decreasing operating costs.

This comes as increased inflation and interest rates continue to weigh on the economy. This has both companies and consumers struggling.

SPR stock is down slightly as of Friday morning.

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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

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