OEMs’ layoff strategies suggest plan for upturn
In hard times past, when an economic crisis resulted in reduced demand for business aircraft and business aviation services, layoffs were common, often wit
In hard times past, when an economic crisis resulted in reduced demand for business aircraft and business aviation services, layoffs were common, often with little notice and minimal compensation. In this recession, which has hit business aviation like the downhill run on a roller coaster with no bottom in sight, companies have sought to ease the trauma of job loss.
Whether it is a higher social conscience at the executive level or a desire to protect a valuable investment that will be needed when things turn around, companies are offering laid off employees severance packages, a continuation of benefits for an extended period, even assistance in career transition for those who wish to find a new profession.
