Piper will defer about $ 10 million worth of incentive money that would have required the company to hire additional workers. Piper will not seek money that would have required it to produce the PiperJet and hire 400 new workers by 2012 for that project. The deal would also have required the company to retain 1,417 people through 2015, removing operational flexibility the company may need. Piper has already shortened its workweek and extended its winter holiday closure to nearly three weeks in adapting to a slowing economy. But the company is framing its actions as proactive, not reactive.
"While this year has been a good one for Piper," spokesman Mark Miller told Florida Today, "we have taken measures to keep the company healthy and to weather any future adversity."