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Sat, Oct 15, 2016

Textron Idles A 'Small Number' Of Workers In Wichita

Company Did Not Give A Specific Number

Textron has laid off what it describes as a "small number" of workers in Wichita, a move described as one that would align resources to meet "business needs."

The Wichita Eagle reports that the layoffs come after Textron announced plans to offer early retirements to some employees company-wide in September. The company also closed aircraft service centers in Atlanta, GA and New Castle, DE.

Aviation analyst Roland Vincent of JetNet IQ told the paper that the both the early retirements and the layoffs are tied to an adjustment in production rates of the Citation XLS+, Sovereign, and X+ jets. Sales of those aircraft have slumped as customers consider the newer Latitude jet, which Vincent said is "selling well."

NetJet IQ is forecasting new jet deliveries to be at best flat over the next two year, and may decline somewhat. Vincent said that it is currently a "very, very challenging time" for new and used jet sales.

(Image from file)

FMI: www.txtav.com

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