Try Jim Cramer's Action Alerts PLUS
Aerospace/Defense

Sikorsky Cuts 2 Percent Of Work Force

The Associated Press

06/19/09 - 07:55 AM EDT

STRATFORD, Conn. (AP) — Connecticut-based Sikorsky Aircraft says a slumping commercial aerospace market is the reason it had to cut its global work force by 2 percent this week.

Company spokeswoman Marianne Heffernan says the restructuring took place on Thursday and affected all divisions. She would not say exactly how many jobs were cut, but a 2 percent reduction in Sikorsky's 17,500 work force would mean 350 fewer jobs.

The subsidiary of Hartford-based United Technologies Corp. had told employees earlier this year that there would be three-day furloughs and job cuts. About 9,000 people work at Sikorsky's headquarters in Stratford.

A majority of Sikorsky's work is for the military and the company has continued to secure contracts for Black Hawks, Seahawks and other helicopters.

___

Information from: Connecticut Post, http://www.connpost.com


Brokerage Partners