Thu, Feb 12, 2009
Falling Bizjet Demand Translates To Job Losses For 1,000
maker Pratt & Whitney Canada will lay off up to 1,000 workers,
about 10 percent of its total workforce, due to the dropoff in
orders for business jets, and the resulting fall in demand for its
The Associated Press reports the layoffs will start a few months
from now. "Many of our clients that manufacture business aircraft
have reduced production levels and laid off people," said company
spokesman Pierre Boisseau. "It has a direct impact on our
operations at Pratt & Whitney Canada."
The enginemaker's announcement comes one day after Louis
Chenevert, CEO of P&WC parent company United Technologies, told
analysts sales of light turbofans for business aircraft have fallen
due to slackening demand. That's a sharp contrast from this time
last year, when Pratt & Whitney was on track to record a 5.5
percent increase in yearly operating profits.
Since that time, the economy has grown worse... and the very
business aircraft that are P&WC's core market have been
scapegoated as examples of corporate greed.
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