Monday, December 22, 2008

Cessna company loses 2,200 jobs


US firm Textron, world's leading maker of corporate jets, has expanded its job cuts to 2,200 amid global downturn.

The maker of Cessna aircrafts and Bell helicopters said the figure included previously announced cuts in its Cessna and Bell divisions.

Textron, which employs 44,000 workers worldwide, did not rule out "further headcount reductions" and other cost-saving measures.

The company also said it would narrow its finance operations.

Textron now expects profit from its manufacturing segment to be in the range of $300m (£200m) to $330m in the fourth quarter, down from previously forecasted $400m.

For the whole company, it forecasts a net loss of 81 to 91 cents per share.

Many companies around the world have been forced to announce huge job cuts and revise down their outlooks amid falling demand as customers pare all but essential spending.

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