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Textron's Cessna unit to lay off 2,000: spokesman

BOSTON
Mon Jan 12, 2009 4:35pm EST

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BOSTON (Reuters) - Cessna Aircraft, the world's largest maker of corporate jets, plans to lay off 2,000 people -- about 13 percent of its work force -- by March, a spokesman said on Monday.

Economy

The cuts are in addition to the 2,200 layoffs announced by parent company Textron Inc (TXT.N) last month.

Cessna spokesman Doug Oliver said the new move was the result of falling demand for light jets in the face of a deepening worldwide recession.

"People taking delivery of new aircraft are canceling or delaying and new orders are slowing globally," Oliver said.

Wichita, Kansas-based Cessna employs 15,000 people worldwide.

Textron last month warned Wall Street that it expects to report a net loss for the fourth quarter as it drastically scales back its finance business.

(Reporting by Scott Malone; Editing by Bernard Orr)
Economy


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