London's Diamond Aircraft announces massive layoffs
Published Tuesday, February 26, 2013 6:23AM EST
Last Updated Tuesday, February 26, 2013 10:08AM EST
In a startling move, Diamond Aircraft Industries Canada President and CEO Peter Maurer announced Monday; the company was laying off “the majority” of its Canadian workforce in London.
It’s estimated that almost 200 people have lost their job.
The move was blamed on continuing low piston aircraft sales in the North American market, and the significant burden of the cost intensive D-JET development program, pending securing additional funding..
In a media release, Maurer said, “We want to hire back as many employees as possible, as quickly as possible, but,” he continued, “the exact number and timing will be determined as we develop our restructuring plans in the coming weeks.”
The company says it will retain "a core group of employees to fulfill purchase orders for aircraft, parts and services and to provide continuing airworthiness and technical support."