Aircraft supplier plans job cuts, facility closings

  • The Wichita Eagle
  • Wednesday, May 4, 2016 3:40pm
  • Business

WICHITA, Kan. — Aircraft supplier Triumph Group will consolidate nearly a quarter of its facilities footprint after reporting a $1 billion loss in fiscal year 2016.

The Pennsylvania holding company whose fiscal year ends March 31 said in its earnings report Wednesday that it will consolidate 10 facilities, five of which will occur in its fiscal year 2017.

That will reduce its total facilities’ square footage by 3.5 million, or 24 percent, the company said. The facility consolidation is expected to result in the loss of 8 percent of its workforce, Triumph said, though it didn’t provide a specific number of jobs to be cut.

The company, which had $3.9 billion in revenue in fiscal 2016, operates Triumph Structures-Wichita in Wellington, about 30 miles south of Wichita.

It wasn’t immediately clear how new CEO Dan Crowley’s “One Triumph” plan will affect either or both of those area operations.

“We are moving immediately to begin realizing the benefits of our transformation strategy,” Crowley said. “We expect improved performance in fiscal year 2017 and follow through in fiscal years 2018 and 2019.”

Triumph attributed part of its loss to development costs on Bombardier’s new Global 7000/8000 large business jet program as well as Boeing’s production rate reduction on the 747-800.

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