Posts Tagged ‘workforce reduction’

Cessna lays off workers

Saturday, May 25th, 2013

Local Wichita television station KAKE reports the layoffs announced this week by Cessna Aircraft total 100 workers. Cessna had not announced totals. The layoffs come in addition to a voluntary retirement program announced earlier this year. Cessna lost $8 million in the first quarter, causing parent company Textron officials to reduce their earnings forecast. A loss is expected in the second quarter too, but profitable quarters are expected to resume late in the year when deliveries of the upgraded Sovereign jet begin.