Israel Aerospace Industries (IAI) is planning to lay off a total of 200 temporary workers across its freighter conversion and executive jet divisions, in response to dwindling demand.
The Israeli firm, which is active in both civil and military aerospace, employs around 16,500 staff. The cutbacks will be evenly spilt between IAI's Bedek Aviation Group, which performs passenger-to-freight conversions, and its business jet division.
An Israel Aerospace Industries spokeswoman says there will be a total of 200 compulsory lay-offs, adding: "IAI management decided on the measure following a drop in orders for business jets, new conversions of freighter aircraft and the upgrading of old passenger aircraft."
The move comes on top of an early-retirement scheme, which has been in force at IAI over the last three years.
Since its inception around 1,100 employees with over 35 years' service have taken up the scheme, which includes full pension benefits, across all of IAI's divisions.