Cessna cuts production and jobs

Cessna is slowing aircraft production and cutting jobs. Textron, the parent, company said the cuts were being made because of lack of new aircraft orders.

“While we are seeing solid performance in most of our other businesses, we have not yet seen a discernable improvement in business jet order activity,” said Scott Donnelly, Textron chairman and chief executive officer. “Therefore, we are taking further production and restructuring actions at Cessna.”