In the news...

April 23, 2014

Textron eliminating 750 Cessna, Beechcraft jobs

Just over a month after buying Beechcraft for $1.4 billion, Textron announced 750 job cuts at that company and at its Cessna division.

The layoffs will occur over the next 60 days. Both aircraft makers are based in Wichita, Kansas, and Textron says about 575 of the affected jobs are based in Kansas.

Management and non-management jobs will be eliminated, the company said.

Textron Inc., based in Providence, R.I., expects about $4.6 billion in annual revenue from the combination of Cessna and Beechcraft.

Beechcraft filed for bankruptcy protection in 2012 because of the sluggish business jet market during the economic downturn. It sold its Hawker business jet assets and emerged from bankruptcy protection in 2013. Cessna laid off workers in 2013, although it didn’t say how many jobs were eliminated. It also offered voluntary retirement for hourly and salaried workers, and said it would cut production that year because of weak demand for light jet products.

Wichita has also endured extensive job cuts after Boeing Co. said it would shut down facilities in the area in response to cuts in defense spending. The move affected more than 2,000 jobs. The company is now in the final stages of closing defense facilities in the area.

In December Textron said it hadn’t made a decision about layoffs following the acquisition, but it acknowledged restructuring and other moves were possible. The company said the combination of Beechcraft and Cessna would be good news for Wichita because Beechcraft would have a stronger parent company.

Shares of Textron rose 17 cents to $40.23 in midday trading. AP




All of this week's top headlines to your email every Friday.


 
 

 

Headlines September 17, 2014

News: Pentagon open to U.S. ground troops in fight against Islamic State - The Pentagon’s top general opened the door Sept. 16 to the possibility that U.S. combat troops would be needed in Iraq, as he publicly laid out President Obama’s still-developing plans to combat Islamic State insurgents through U.S. air power and relying on an...
 
 

News Briefs September 17, 2014

U.S. to assign 3,000 troops to fight Ebola The Obama administration is preparing to assign 3,000 U.S. military personnel to West Africa to combat the Ebola outbreak that has overwhelmed local health care systems and drawn appeals for help from the region and aid organizations. The troops will supply medical and logistical support and boost...
 
 
Navy photograph

Future USNS Fall River delivered

Navy photograph The joint high speed vessel USNS Fall River (JHSV 4) completes acceptance trials testing and evaluations in the Gulf of Mexico. The ship’s trials included dockside testing to clear the ship for sea and at-...
 

 
University of Alaska-Fairbanks photograph by Chris Larsen

NASA airborne campaigns focus on climate impacts in Arctic

University of Alaska-Fairbanks photograph by Chris Larsen Changes in more than 130 Alaskan glaciers are being surveyed by scientists at the University of Alaska-Fairbanks in a DHC-3 Otter as part of NASA’s multi-year Oper...
 
 
Air Force photograph by Michael J. Pausic

Future of NATO: Adapting to a new security environment

Air Force photograph by Michael J. Pausic Gen. Phillip Breedlove informs the assembled crowd about the results of the recent NATO Summit and the areas of instability that affect Europe that have regional implications. Seated in...
 
 
Image courtesy of NASA/CXC/M. Weiss

NASA’s Chandra X-ray Observatory finds planet that makes star act deceptively old

Image courtesy of NASA/CXC/M. Weiss A new study from NASA’s Chandra X-ray Observatory shows that a giant exoplanet, WASP-18b, is making the star that it orbits very closely act much older than it actually is. This artist&...
 




0 Comments


Be the first to comment!


Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>