Transdigm announces cost mitigation efforts

Transdigm announces cost mitigation efforts.transdigm group inc - adjusted its estimated shipping levels accordingly and will reduce its workforce by up to 15%.transdigm group inc - currently anticipates implementing one to two week furloughs at many locations over approximately next six months.transdigm group inc - impacted domestic employees will receive a substantial lump sum payment upon their departure based on their tenure.transdigm group inc - beginning to see significant decreases in demand across its commercial aerospace business.transdigm group inc - withdrawing its financial guidance for fiscal year ending september 30, 2020.transdigm group inc - expects decreases in demand across commercial aerospace business to continue in coming months.transdigm group inc - senior management team will substantially reduce their cash compensation for balance of 2020..transdigm group inc - members of board of directors will forgo their annual cash board fees.transdigm group inc - ceo stein is reducing his cash compensation by over 50%.
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