TULSA, OK -- Our economy in crisis has forced another local company to reevaluate and reorganize its workforce. Limco Airepair, a leading aerospace company, announced Monday it is closing its Tulsa plant and moving to North Carolina.
"As we see the conditions getting weaker and weaker in the marketplace, we felt the need to make this move. And it's just the opportunity for us to consolidate a lot of effort to reduce costs that are driving it," said Bob Koch, Limco Airepair Executive.
Limco specializes in maintenance and repair for aircraft parts like heat transfer components, propellers, and landing gear.
"We serve Boeing, Raytheon, Lockheed, Gulfstream, a lot of different airframe manufacturers, as well as the airlines," said Koch.
The company expects to close its Tulsa operations by the end of June. That affects 150 factory employees.
"Every position here will be eliminated," said Koch.
Based on a study, the company's overall workforce will be reduced by about 12%. The company expects to save half-a-million dollars a year after the move.
There is opportunity for employees to transfer with the company, but there will be fewer positions available.
"Obviously nobody wants to go through this. Change is never good, but reaction has been good. I think everybody understands the issue and we're doing our best to treat the employees fairly as we go forward," said Koch.
Koch says the company will receive about $44,000 in incentives to consolidate their plant in North Carolina.