INDIAN RIVER COUNTY — As many as 150 employees at Piper Aircraft in Vero Beach could be getting pink slips, the company announced today.
Due to what the company calls “economic instability” around the world, Piper has seen a decline in its deliveries.
“Piper Aircraft has experienced steady recovery since 2009, however, we are facing challenges and economic instability in several key regions of the world, including Asia, parts of Europe, and Latin America,” said Piper President and CEO Simon Caldecott. “The team at Piper is committed to the business and as such must make the agonizing decision to adjust accordingly. We are focused on maintaining market share while working towards the completion of the M600 certification program. However, we must better align production with current market demand.”
Caldecott said that Piper Aircraft will adjust its production schedule for remainder of 2015, as well as 2016, which will require a reduction to the workforce.
The company expects to cut between 15 percent and 20 percent of the current workforce. The current employment at Piper totals more than 750 individuals.
Piper is preparing a schedule of personnel reductions and will provide information to the affected employees as soon as possible.
The Piper Human Resources team will work with the local job placement organization, CareerSource Research Coast, as well as the state unemployment office to assist employees through this transition.
Caldecott said that while the piston and turboprop markets have slowed, the company is optimistic that sales will recover.
In the meantime, the engineering and flight test development teams are focused on the development and certification of the M600, Piper’s newest addition to the single-engine turboprop market.
