Embraer today confirmed that it is cutting 1,463 employees, or about 8 percent of its workforce, through a voluntary buyout program that the Brazilian manufacturer announced last month. In August, Embraer said it was offering a voluntary dismissal program (VDP) as part of an effort to save $200 million.

The manufacturer, saying the program would affect all of its business units, had cited a “challenging global aerospace scenario.” The program comes on the heels of a $200 million second-quarter charge the company took in anticipation of a potential outcome of a U.S. corruption investigation.

In addition, Embraer had revised down its business delivery forecast for the year and reported a 25percent drop in revenues from its executive jet unit in the second quarter. Margins in that unit for the quarter were -8.5 percent. 

Embraer CEO Paulo Cesar Silva had stressed the need to remain disciplined in a soft business jet environment, saying the company was “adjusting its internal costs in the unit [so] we can get to the margins we need." The company has also had to curb its military programs as a result of the Brazilian financial crises.