Sunday, September 28, 2025
24.6 C
Lagos

Embraer to Sack 4000 Staff

Brazilian plane manufacturer, Embraer announced plans to reduce its workforce by 20% through voluntary layoffs of around 4000 employees, mainly in production and administration units due to global economic recession.
The company noted that around 90% of its revenue comes from exports and the economic crisis has affected demand in mid-sized passenger jets market. In order to reduce the negative impact on the development of new aircraft, such as KC-390 tanker or E190-E2 jet, the reduction of engineering division workforce will be minimal.
Most of the job eliminations will come in Brazil, but there will be layoffs in Embraer’s plants in China and Portugal as well. Through voluntary layoff program, the company expects to save around $200 million per year.
Recently, Embraer lowered its financial results forecast for 2016. The company‘s consolidated revenue will be lower by $200 million and is expected to be $6.2 billion. Planemaker expects delivery of 80 light and 45 large aircraft, compared to 85 and 50 originally planned.

spot_img
spot_img

Hot this week

AIICO Deepens Bond with Retirees, Holds Annuity Forum in Lagos, PH

Mr. Gbenga Ilori, Head, Retail Business at AIICO, in...

Sovereign Trust Insurance Holds 30th AGM

L-R: Eric Balogun, Independent Director, Emi Faloughi, Director, Kayode Adigun,...

Unity Bank Shareholders Approve Merger with Providus Bank

  EGM: From left: Mr. Usman Abdulkadir, Executive Director, Risk...

NNPCL: Ogoni Re-entry is a Beacon of Reconciliation through Collaboration

The re-entry into Ogoniland marks a historic turning point...

NLNG, NCDMB Celebrate 122 Graduates of Train 7 HCD Training Program

NLNG in collaboration with the Nigerian Content Development and...

Topics

IATA Postpones 2020 AGM over COVID-19

  The International Air Transport Association (IATA) announced the postponement...

Capacity Building: Polaris Bank Empowers over 5,000 Journalists Pan-Nigeria in 10 Years

Polaris Bank Limited has empowered more than 5,000 journalists...

N411m Fraud: Ecobank Turns in Ex-Manager for Prosecution

A Federal High Court in Ikoyi, Lagos, has ordered...

Stanbic IBTC Bank Corrects Narrative on Violating BOFIA Act 2020 

Stanbic IBTC Bank has recently become aware of certain...

Sovereign Trust Insurance Partners Igbobi College on Industry Career

Cross Section of Igbobi College Students, Teachers and Staff...

Top 10 Takeaways From Protein Challenge Webinar Series 5

Protein deficiency, the state of the relative or absolute...

Continuous Dialogue Critical to Tackling Telecoms Industry Challenges – Danbatta

  L- R: Engr. Bako Wakil, Director, Technical Standards and...
spot_img

Related Articles

Popular Categories

spot_imgspot_img