Tulsa's Nordam Cuts 60 More Jobs

Wednesday, February 18th 2009, 9:45 pm
By: News On 6

Ashli Sims, The News on 6

TULSA, OK -- The aerospace industry continues to suffer whiplash from the economy in crisis.

This week, Tulsa company Nordam shed another 60 jobs, its second round of layoffs in a matter of weeks.

The CEO blames the struggling financial sector and some tough talk from Congress for the loss of 150 jobs.

"When you had interviewed me previously, we had hoped that maybe this was going to be it," Nordam CEO Bill Peacher said.

Peacher says the company is bleeding jobs because clients are slashing orders left and right.

"And obviously when they cut their orders we have no choice but to cut our production," he said. "And when we cut production, we have to reduce the size of our workforce."

Peacher says the business jet industry is hurting because of the financial mess. But he also blames Congress.

"One thing we can do to stop the hemorrhaging in the business jet business is for our politicians to quit from running the business down," Peacher said.

Congress slammed the big three automakers when their CEO's flew corporate jets to ask for a government handout.

But Peacher says it's a $150 billion industry, and these jets are not the playthings of CEO's.

"All kinds of people that work for businesses fly around in business jets because they're efficient, because they get you where you need to go quickly," Peacher said.

The aerospace industry has been here before, after Sept. 11, 2001. But Peacher says the difference this time is the speed of the decline. He says Nordam had its best month ever in September, and two months later the layoffs started.