Portland, Oregon-based Precision Castparts, a manufacturer of high-tech aerospace, defense, and industrial castings and forged parts owned by Berkshire Hathaway, has announced 717 layoffs at two Portland, Oregon facilities.
The decision was driven by the downturn in the aviation and turbine-driven energy industry and Boeing's suspension of aircraft production.
Prior to the layoffs, a company spokesperson noted, "As the impact of the crisis and other macroeconomic factors have weighed on our nation, many of our customers have or intend to curtail or reduce their production for a period of time. Due to the resulting order reductions, we are announcing a temporary shutdown of our operations over the coming weeks to align our production with our customers’ needs.
Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?