Textron has announced 750 job cuts at its Cessna and Beechcraft divisions, just a month after buying Beechcraft for $1.4b. The layoffs are expected to take place over the next 60 days.
Cessna employs about 5,400 while Beechcraft employs about 3,500.
The news won’t come as a surprise, however, following Textron’s announcement back In December when it acknowledged restructuring was possible. And while the news won’t be good for the affected workforce, the announcement did see shares in Textron rising by 17 cent to $40.23. <a href=”http://www.textron.com”>Click here for more</a>
