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Textron to cut 2,200 jobs

Posted: December 24th, 2008 | Author: | Filed under: By Location, USA | No Comments »

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

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