Pratt & Whitney Cuts Jobs – Analyst Blog
Zacks Market Commentaries (September 22nd, 2009) Writes:
Jet engine maker Pratt & Whitney said it plans to eliminate 1,000 jobs in Connecticut by 2011, transferring engine repair work to the Southeastern state of Georgia and Asia in a cost-cutting initiative.
This subsidiary of United Technologies Corp. (UTX) will close down its Cheshire, Connecticut, plant by early 2011. From the second quarter of 2010, it will begin shifting some operations from the East Hartford facility to Columbus, Georgia, Singapore and Japan. Pratt & Whitney, which is suffering due to sagging demand from airlines, employs 35,000 workers worldwide, with 11,000 in Connecticut.
The company rejected an offer that the Machinists union valued at more than $80 million in wage and other concessions and a state plan proposing $100 million in economic assistance over five years. Pratt & Whitney has vastly scaled back operations in the state since the 1960s, when more than 20,000 workers were employed.
Pratt
...Tags for this Post:
aerospace businesses, aerospace industries, aerospace industry, back operations, Boeing Co, C-17 Globemaster III, Cheshire, Columbus, Connecticut, East Hartford facility, F-15 Eagle, F-15;, F-16, F-16 Fighting Falcon, F-22, F-22 Raptor;, F-35 Joint Strike Fighter, food service equipment customers, general electric co, Georgia, high technology products;, industrial gas turbines;, Investing Lessons, Japan, leader, Singapore, space propulsion systems, Stocks to Watch, United Technologies Corp, USD, Zacks Market Commentaries
aerospace businesses, aerospace industries, aerospace industry, back operations, Boeing Co, C-17 Globemaster III, Cheshire, Columbus, Connecticut, East Hartford facility, F-15 Eagle, F-15;, F-16, F-16 Fighting Falcon, F-22, F-22 Raptor;, F-35 Joint Strike Fighter, food service equipment customers, general electric co, Georgia, high technology products;, industrial gas turbines;, Investing Lessons, Japan, leader, Singapore, space propulsion systems, Stocks to Watch, United Technologies Corp, USD, Zacks Market Commentaries


![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/charts/metals/gold/t24_au_en_usoz_2.gif)
![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/charts/metals/silver/t24_ag_en_usoz_2.gif)
