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Spirit Aerosystems to cut 2,800 jobs, 15% of total workforce

  • Spirit Aerosystems (SPR -1.6%) says it expects to lay off ~2,800 jobs at its Wichita, Kan., base, as it grapples with the longer than expected grounding of 737 MAX jets.
  • Boeing's (BA -0.4%) biggest supplier says the move is "a necessary step given the uncertainty related to both the timing for resuming 737 MAX production and the overall production levels that can be expected following the production suspension."
  • The layoffs amount to more than 15% of SPR's entire workforce and signal more pain ahead, as the 737 MAX safety ban ripples across the program's U.S. supply chain.

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