Spirit AeroSystems continues salaried workforce reductions, hourly hiring

WICHITA, Kan., Sept. 12, 2013 /PRNewswire/ -- Spirit AeroSystems, Inc. (NYSE: SPR) today continued its previously announced workforce reductions by issuing layoff notices to approximately 150 salaried and management workers in Wichita, Kan. In addition, a significant number of Spirit salaried employees have expressed interest in voluntary retirement and voluntary layoff programs. The company is offering a lump sum severance payment and career transition services to employees who are laid off, and a lump sum severance payment and enhanced healthcare and pension options to eligible employees who decide to participate in the voluntary retirement program.

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At the same time Spirit is reducing its salaried and management population, the company is hiring several hundred more factory workers, including assembly, composite, metals and process mechanics, and quality inspectors. These company actions to balance the workforce are being taken to meet record demand from its customers, and become more competitive in a cost-sensitive environment. Spirit is already producing at record rates and ramping up for further increases later this year and in early 2014. Spirit's backlog remains robust at about $38 billion.

On the web: www.spiritaero.com
On Twitter: @SpiritAero

About Spirit AeroSystems, Inc.
Spirit AeroSystems, with headquarters in Wichita, Kan., USA, is one of the world's largest non-OEM designers and manufacturers of aerostructures for commercial aircraft. In addition to its Wichita and Chanute facilities in Kansas, Spirit has locations in Tulsa and McAlester, Okla.; Kinston, N.C.; Nashville, Tenn.; Prestwick, Scotland; Preston, England; Subang, Malaysia; and Saint-Nazaire, France. In the U.S., Spirit's products include fuselages, pylons, nacelles and wing components. Additionally, Spirit provides aftermarket customer support services, including spare parts, maintenance/repair/overhaul, and fleet support services in North America, Europe and Asia. Spirit Europe produces wing components for a host of customers, including Airbus.

Cautionary Statement Regarding Forward-Looking Statements
This press release contains forward-looking statements concerning future business operations. Forward-looking statements reflect our current expectations or forecasts of future events. We caution investors not to place undue reliance on any forward-looking statements. Actual results or circumstances may vary materially from those indicated or implied in this press release as a result of certain risks and uncertainties, including our ability to attain the anticipated cost reductions and efficiencies from the announced workforce reduction, the continuation of increased demand from our customers, as well as other risks and uncertainties, including but not limited to those detailed in Spirit AeroSystems Holdings, Inc. Securities and Exchange Commission filings.

SOURCE Spirit AeroSystems, Inc.



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