Exclusive: Spirit Aero tells suppliers jobs may go offshore - sources

Reuters News
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Posted: Mar 02, 2017 4:54 PM

SEATTLE (Reuters) - Spirit AeroSystems Holdings Inc, a major supplier to Boeing Co and Airbus, is demanding steep price cuts from its hundreds of parts suppliers, forcing them to re-bid for their current work against global competitors, according to a document seen by Reuters and three sources familiar with the matter.

Spirit is asking for price cuts of 15 to 35 percent in meetings this week in Wichita, Kansas, where it is based, according to the sources and to a Feb. 13 letter Spirit sent to suppliers.

(Reporting by Alwyn Scott; Editing by Matthew Lewis)