Nordam Lay-offs

By Associated Press

Tulsa, OK – Nordam announces more layoffs

TULSA, Okla. (AP) Tulsa-based aerospace manufacturer NORDAM Group is laying off 32 more employees to bring to 330 the number of jobs cut in the past nine months.

NORDAM has 1,562 employees in Tulsa and 2,116 worldwide.

Company officials say the layoffs are due to a continuing decline in orders in the business jet market.

NORDAM Chief Executive Officer Bill Peacher says he's hoping the market has now hit bottom and is starting to stabilize.

The layoffs are in the company's Nacelle & Thrust Reverser division.

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Information from: Tulsa World, http://www.tulsaworld.com

Copyright 2009 The Associated Press.