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Spirit AeroSystems (NYSE:SPR) is limiting overtime and hiring as production declines due to lower production of Boeing (BA) 737 MAX jets, Reuters reported on Friday.
Boeing (BA) MAX production has fallen sharply in recent weeks as U.S. regulators ramped up the factory controls and workers slow down Seattle’s assembly line to complete exceptional work, and the slowdown hits Spirit Aero (SPR), which makes up about 70% of a 737 airplane.
“When I walk around the factory things slow down,” Cornell Beard, president of the Wichita, Kansas, union district representing Spirit Aero (SPR) workers, told Reuters, adding that the company cut overtime last week.
Spirit AeroSystems (SPR) is “aligning our production to support our customers’ pricing profile,” which includes “limiting overtime and hiring for specific roles, including contractors,” in the near term, a company told Reuters. spokesman.
The company has not posted annual profits since 2020 following two fatal 737 MAX crashes and the Covid-induced travel slump that hit other Boeing (BA) suppliers.