FE Power Forums
FE Power Forums => Non-FE Discussion Forum => Topic started by: AlanCasida on April 02, 2020, 12:21:45 PM
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Boeing is expected to announce a voluntary buy out to ALL employees in the wake of the Corona Virus & 737 Max grounding. They are painting a pretty bleak picture of the near future of aircraft manufacturing. The company I work for, Spirit Aerosystems, builds almost all of the 737 fuselage so what happens at Boeing will have a definite effect here. The early retirement offer they have extended to me is looking better all the time.
https://www.bloomberg.com/amp/news/articles/2020-04-02/boeing-expected-to-announce-voluntary-buyouts-to-all-employees?fbclid=IwAR1r2AFAtDmAs9Qv1imEr4ERvCfISDEZ4KBODmQX39hHNcLEXRtO-Hd00Uk
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My wife is a program manager at Thales In-flight Entertainment division. They build seat-back LCD units for airliners.
As you can imagine they are hurting badly! Just yesterday they told everybody to expect a 30% pay cut until things get rolling again. We're relieved since we really expected a furlough.
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My wife is a program manager at Thales In-flight Entertainment division. They build seat-back LCD units for airliners.
As you can imagine they are hurting badly! Just yesterday they told everybody to expect a 30% pay cut until things get rolling again. We're relieved since we really expected a furlough.
The Plating/surface finish company I work for does a lot of work for Thales and Boeing. We also do a lot of other military/aerospace work. We haven't seen any slow downs in production....yet.
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At the end of last year, even with the 737 Max grounding we were producing 52 planes a month. After the first of the year Boeing suspended 737 production until May. On March 25th we were given two weeks off so the facility could be sanitized and because had not much to do. At that point we were told that when production started we would be building between 15-20 planes a month and it might be be 2022-2023 before we got back up to where we were...if then. With today's announcement who knows. Commercial aircraft is only about 25% of Boeing's current business where as here at Spirit it is pretty much 100% with 70% of that going to Boeing. I am extremely grateful to my Company who has decided to pay us while we are off but I don't know how long that can last.
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I am extremely grateful to my Company who has decided to pay us while we are off but I don't know how long that can last.
That's pretty amazing that they're paying you while off. It says a lot about the company. Airlines are seemingly always on the edge of bankruptcy, and this situation certainly is going to put the hurts to a few companies. I hope yours turns out okay, Alan.
Several friends of mine who took the buyout from Ford before the last recession, didn't regret it one bit. But they were smart and had planned for many years for retirement. A lot of people are too far in debt to even consider it.
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Well i have been retired since i was 35 after a stroke. Take it if you get
reasonable pay. I wish i had been retired and healty but it is what it is
But to get up in the morning and knowing,,,,I is the only one that decide
what i shall do today, and tomorrow, that is a wounderful feeling.
I can decide to go on a roadtrip for a couple of weeks when ever i want
or go out in the garage when ever i want. It is an extra long weekend
all the time. Downside is the social side, no workmates to Bs with and
so on. But i enjoy spending time in the "mancave" alone working on stuff
My wife is also retired after a carcrash so we spend more or less 24/7
together and that works fine. We realy enjoy each others company
and do fun things together.
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;D ;D ;D ;D ;D ;D ;D
Good on yah, as the Limeys would say.
I'll very likely never retire; just be more able to take time as I see fit.
KS