Thread regarding L3 Technologies layoffs

Kubasik on the Aerospace Systems Segment

from the recent investor's conference:

"In aerospace, during the third quarter, we organizationally combined the Greenville and Waco operations, and headcount has been reduced by over 700 people. Additionally, we recently concluded a strategic review of Vertex Aerospace, and have decided to initiate a sale process. While Vertex is a strong player in the maintenance and logistics support market with good prospects, we are focusing our resources on higher value-add and more profitable business."

So they are going to sell Vertex? Strange that they announce it like this

by | Post ID:
1519 views | 5 replies (last )
Comment! It's anonymous! Reply to this post anonymously by submitting the form near the bottom of the page!

5 replies (most recent on top)

Vertex should have been sold 4 years ago,....

by | Post ID:

I currently have worked for Waco for 14 years, lets look back at just the last 4 years of layoffs at Waco, the plan had to be to close the operations and to do it in a way not to trigger WARN. Tiggering WARN is bad for the stock price, laying off in short groups 2 to 3 times a year keeps the Waco Tribune a sleep at the control board and the Chamber and the City Fathers are so focused on Fixer Upper and Baylor Real Estate that they don't see what is coming out at TSTC airport until it would be too late. No amount of incentives will keep Waco open if the Greenville Leadership wants to protect their own and that behavior is evident in how the consolidation Chris speaks to in the call.... 2 layoffs... and then folks just disappearing with out announcements, firing of long term employees for small issues that if a real investigation was made could be found to be not their fault. Vertex is just the start, get out while you can no one is going to stop you because they want to get rid as many employees as possible because that is good for he stock price. Yes man, the jury is still out he still is not in charge, if he makes some positive moves for Waco when he gets in charge then maybe he is ok, so meanwhile the resume is out and interviews are occurring,

by | Post ID:

Also from the quarterly call

"Moving to Aerospace Systems, which continues to be our most challenging business, we're not satisfied with the growth rate or the profitability. We talk about the recent actions and this will continue to be an intense focus area for me and my team. "

The heat is still on for AS. If it doesn't shape up as expected it will be following VERTEX? maybe?

by | Post ID:

Kubasik. . .the investor-led Board of Directors hired themselves a patsy - AKA a "yes" man to squeeze the company and push up the stock price. Strianese will be missed. He was good.

by | Post ID:

What would possess L3 to hire a dirt bag like Kubasak? With all of the s-xual harassment cases in the news they hired the guy who was shown the door at Lockheed for harassing his secretary and L3 gives him the keys to the castle. That doesn't say much for the company.

by | Post ID:

Post a reply

:

Related pages


verizon cofee to goapollo group 401ksony san diego officekmart layoffsgdc4s ivewoodland hills apple storeedmc schoolsatt bothellticker dddnabors industries and subsidiariesgulfport energy corppetco corporateibew 1049extreme enterasyssspostbank of america cordovamedpartners himdigitek computer products incnatinal oilwell varcoaltus baytown txcorporate office verizon wirelessisis pharmaceuticals incat&t wireless forumsparexel newsyp holdings layoffsstephanie kugelmanscott trade seating chartbank of america westlakehealthbridge orangecabela's arizonasandridge energy stocksquorum oil and gascabelas tualatin oregonnational oilwell varco locationspepperdine west la bookstoretoshiba main officecit tickerinfosys firingcape regional medical center njnewfield resourcesqualcomm building qhoneywell acsroyal dutch shell houstonultradex toolinghh gregg nashvillecameron international salaries282 washington street hartford ctcnn layoffsacxiom layoffslpl financial corpkohls temeculaintel starting salaryneiman marcus hoursajg gallagherskyworks solutionjabil st petersburg flh1b cancellation processmaxlinearhess stocksapple store west townesafeway inc corporate officenbty newsace insurance locations646-223-4000fmc surface wellheadjohn deere layoffsstantec acquisitionsmy campus fortissenior director qualcomm salarylayoffs at ibmmosaic potash stock pricefinancial aid uopwalgreen store closingswestwood college dupageamd stock pre markethospira rocky mountsprouts supermarket locations