Rapid Fire 2011-10-10: AgustaWestland | Service Slowdown
- Finmeccanica’s AgustaWestland, following in BAE’s footsteps, will cut up to 375 jobs in the UK. The company’s plant in Yeovil manufactures AW159 Lynx Wildcats for the MoD. However, while AgustaWestland’s license to manufacture Chinooks as ICH-47Fs that led to sales in Italy also covers Britain, it lost to Boeing when the MoD decided to get more helicopters, so the job cuts were predictable. ADS, the UK’s aerospace & defense trade association, warns that there’s potential for significantly more cuts ahead.
- Closer, but no cigar. UAW workers rejected Oshkosh’s latest 5-year contract terms on Saturday. They don’t see eye to eye on temps.
- Stan Soloway, president and CEO of the Professional Services Council, reviewed US federal spending on services during the first half of the previous fiscal year (i.e. Oct 2010 to March 2011) and notes that for the first time in a decade, orders for professional, administrative and management services have been decreasing. According to Soloway the US Army alone accounts for a 3rd of the federal total and saw a 15% decline, at least based on preliminary data.