From an Columbus NBC station the report states 5% of the 7000 total employees of NetJets. That would mean the pilots, as I understand it. How many total pilots does 5% represent? 150? To all those on or about to be on the street, my prayers are with you. I am also furloughed fractional. Hope the recalls happen soon.
From an Columbus NBC station the report states 5% of the 7000 total employees of NetJets. That would mean the pilots, as I understand it. How many total pilots does 5% represent? 150? To all those on or about to be on the street, my prayers are with you. I am also furloughed fractional. Hope the recalls happen soon.
"Slumping conditions in the commercial aviation industry have prompted NetJets Inc. to cut hundreds of jobs, including in Columbus.
The corporate aircraft operator, which recently completed a move of its headquarters to Columbus from New Jersey, said in a statement Friday that it has made an across-the-board cut to its U.S. operations that amounts to about 5 percent of its 7,000-employee work force worldwide. Spokesman Ted Lowen said the cuts amount to fewer than 300 workers in Ohio. NetJets has about 2,000 workers in the area at its Port Columbus International Airport operational headquarters and suburban regional offices. The company also has Ohio operations in Cincinnati.
A major expansion at Port Columbus announced in March 2008 is being put on hold, Lowen said.
“With the current situation, talking about expansion is probably not the ideal thing,” he said, adding that the company hasn’t taken any public incentives offered for the expansion or committed to a timeline.
The company attributed the cuts to “the severe economic conditions facing the aviation industry,” CEO David Sokol in a statement, calling them a “very difficult but necessary step as the company must reduce its costs to the levels necessary to maintain NetJets’ business.”
Lowen said other cost-cutting measures include curtailed expenses and the delaying of jet and equipment delivery. He declined to disclose a savings target.
“We’ve looked at a lot of different areas (to cut),” Lowen said.
NetJets parent Berkshire Hathaway Inc. in its second-quarter earnings release said NetJets had lost $349 million pre-tax through the first six months of the year, with the losses accelerating in the second quarter. It said NetJets’ revenue dropped 42 percent in the first half of the year, including an 81 percent decline in fractional jet sales and a 22 percent drop in flight operations. It warned that “NetJets owns more planes than is required for its present level of operations and further downsizing will be required unless demand rebounds.”
The second half of the year has brought major change for the company, including the departure of founder and CEO Richard Santulli last month. That shake-up came days before NetJets confirmed plans to move its corporate headquarters to Columbus, the longtime site of its operational headquarters."
Note the bold print! Most experts including the CEO of Cessna says a recovery isn't expected until sometime in 2012-13. Although I hate to see office staff and marketing personal let go, I hope and pray that NJ's can avert layoffs in the pilot group, but unfortunately I think it's inevitable.
I talked to a NJ driver yesterday and he told me 700 pilots to be furloughed. Any truth to that?
Oh so now its 700???... I've heard 200, 300, 400, 800, 900, 500....
here at Netjets we know its probably coming, but as far as how many, who the hell knows... pilots like to throw up figures just to keep the rumors going, just like they do everywhere else..
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