Textron to cut 2,200 jobs
The Providence, R.I.-based Textron said it had cut 2,200 jobs worldwide, as part of a previously announced restructuring plan. The company said the plan may cost $65 million by the end of the quarter, but save $100 million in 2009.
Textron said the jobs have already been eliminated.
“Continued weakening in economic conditions is … impacting customers of our manufacturing segments, especially at Cessna and (the company’s industrial division),” said Textron President Lewis Campbell in a statement.
Textron also said it would be exiting the commercial finance business.
From CNN Money
