Embraer announced laying off nearly 4,300 workers as it slashed its 2009 delivery forecast by 28 aircraft, lowering revenue guidance for next year to $5.5 billion.
The job cuts amount to about 20% of the Brazilian commercial and business jet manufacturer's 21,362 employees. The layoffs will eliminate "one layer in the management structure" and be concentrated in production and administrative areas.
Saturday, February 21, 2009
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