Textron Aviation furloughs thousands of U.S workers
Tweet
Share
E-mail
FILE PHOTO: A logo of Cessna is pictured on their booth during the European Business Aviation Convention & Exhibition (EBACE) in Geneva, Switzerland, May 22, 2017. REUTERS/Denis Balibouse
Get Alerts TXT Hot Sheet
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 0.1%
Revenue Growth %: +5.3%
Join SI Premium – FREE
SEATTLE (Reuters) - Textron Aviation, a unit of Textron Inc (NYSE: TXT), announced furloughs for most of its U.S.-based workforce on Wednesday as concerns over depressed demand due to the spreading coronavirus ripples through global aviation.
The $13.6 billion company, which makes Cessna aircraft, Bell helicopters and flight simulators, said a four-week furlough at its Aviation unit would fall into a March 23-May 29 timeframe.
The furlough affects some 7,000 or more workers, a person familiar with the matter said.
(Reporting by Eric M. Johnson in Seattle; Editing by Chris Reese)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Textron Aviation rolls out its 500th Cessna Citation Latitude jet
- Trump administration plans to speed approvals of vapes and nicotine pouches - WSJ
- TransUnion CFO Todd Cello to resign at end of 2026
Create E-mail Alert Related Categories
Corporate News, General News, ReutersSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
