Spirit Aerosystems Limits Overtime And Hiring For Specific Roles As Boeing 737 Max Output Drops; Says It Is Aligning Production To Support Customer's Rate Profile; Spirit Aerosystems Local Union President Says Overtime For Assembly Workers Was Cut, 'Things Have Slowed Down' On Shop Floor
Portfolio Pulse from Benzinga Newsdesk
Spirit Aerosystems has reduced overtime and hiring for certain roles in response to a decrease in Boeing 737 Max production. The company is adjusting its production to match its customer's rate profile. The local union president confirmed that overtime for assembly workers has been cut, indicating a slowdown in shop floor activities.
April 12, 2024 | 7:48 pm
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Spirit Aerosystems faces a potential short-term negative impact due to reduced overtime and hiring, signaling a slowdown in production for the Boeing 737 Max.
The reduction in overtime and hiring at Spirit Aerosystems directly relates to a decrease in demand for the Boeing 737 Max, which is a significant part of SPR's business. This adjustment in production capacity could lead to lower revenue in the short term, affecting the company's stock price negatively.
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