British engineering company, Senior has implemented cost-cutting measures, including workforce adjustments such as furloughs and job cuts. The decision comes as Boeing’s commercial aircraft operations face a strike, while Airbus grapples with supply-chain issues, including a shortage of parts.
The decision was announced on Tuesday, 8 October. Additionally, the company stated that it has taken these steps to address the ongoing challenges in the commercial aerospace manufacturing sector, affecting its key clients such as Boeing and Airbus.
Senior has not yet specified how many jobs will be affected. However, the company emphasised that these actions are necessary to align its operations with current demand and maintain financial stability.
The aerospace industry has been dealing with significant setbacks, such as the reduced production rate of Boeing’s 737 MAX, which remains under the scrutiny of the Federal Aviation Administration (FAA), and ongoing delays in Airbus’ production due to supply- chain bottlenecks.
Despite these challenges, Senior remains optimistic about its long-term outlook. The company expects overall growth in its aerospace segment by the end of the year, viewing the current disruptions as temporary. Senior’s operations, which are heavily tied to both Boeing and Airbus, have been impacted by these issues, directly and through their Tier 1 suppliers. However, the company is confident in its ability to navigate these difficulties and continue its recovery trajectory.
