Piper Aircraft Announces Impending Layoffs

A Piper Aircraft press release issued Wednesday paints a grim picture for employees of this Vero Beach general aviation manufacturer.

Some 150 of the firm's 750 employees are facing layoff. 

“As a direct result of the slowdown in sales, Piper Aircraft will adjust the production schedule for the remainder of 2015, as well as 2016,” according to the release. “The downward revision of Piper’s planned production will require that the current workforce be reduced. While the total number of impacted employees is not yet confirmed, the company expects that the reduction will involve approximately 15 percent to 20 percent of the current workforce. Current employment at Piper totals more than 750 individuals.”

The complany blames "weak" global demand for general aviation aircraft for its substandard first-quarter financial figures. 

“Piper Aircraft has experienced steady recovery since 2009; however, we are facing challenges and economic instability in several key regions of the world, including Asia, parts of Europe, and Latin America,” Piper President and CEO Simon Caldecott stated in the release. “The team at Piper is committed to the business and as such must make the agonizing decision to adjust accordingly. We are focused on maintaining market share while working towards the completion of the M600 certification program. However, we must better align production with current market demand.”

Between its founding in 1927 and the end of 2009 -- date of the last count -- the company produced 144,000 aircraft in 160 certified models, of which 90,000 are still flying. Piper, along with Beechcraft and Cessna, at one time was considered one of the "Big Three" in the field of general aviation manufacturing.