Quickstep to slash local workforce

Meanwhile, the aerospace composite business is also expected to reduce staff within its corporate support teams by 35 per cent.

The engineering development and services business units will not be impacted by the announcement.

ASX filings revealed that the restructure will save the ASX-listed company $5 million in annualised costs.

According to filings, impacted staff members have yet to be notified.

The announcement comes days after the company told the market it hoped to maintain “consistent” margins despite the reduced demand for F-35 parts.

“In line with customer requirements, overall demand for F-35 components will be circa 8 per cent lower than average demand over the FY23/FY24 period,” a statement from the company read.

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“However, Quickstep’s streamlined operating model aims to ensure program margins remain consistent despite this lower demand.”

In March, the company announced that it was developing 40 Volanti airframes and delivering associated non-recurring engineering services to drone provider Carbonix. The $1.35 million order is scheduled for completion on 30 June.

Liam Garman

Editor – Defence and Security, Momentum Media

Liam began his career as a speech writer at New South Wales Parliament before working for world leading campaigns and research agencies in Sydney and Auckland. Throughout his career, Liam has managed and executed international media and communications campaigns spanning politics, business, industrial relations and infrastructure. He’s since shifted his attention to researching and writing extensively on geopolitics and defence. He holds a Bachelor of Commerce from the University of Sydney and a Masters in Strategy and Security with Excellence from UNSW Canberra, with a thesis on post-truth, postmodernism and disinformation operations.

 

Reach out to Liam via email at This email address is being protected from spambots. You need JavaScript enabled to view it. or via LinkedIn.