Textron Aviation lays off 750 staff across Beechcraft and Cessna
Textron Aviation has laid off 750 staff, as the restructuring of the newly-created umbrella company begins to take shape.
Textron Aviation, the newly formed parent company of Beechcraft and Cessna, has began laying off 750 members of staff, as the newly created company begins the process of bringing the two brands together.
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The lay-offs will come from both the Beechcraft and Cessna sides of the business and will affect managerial and non-managerial positions, including both permanent and contract staff. Of the 750 employees affected, around 575 are based in Kansas.
Before the lay-offs, Textron Aviation employed approximately 13,000 members of staff, meaning that it has effectively reduced its headcount by six per cent.
In a letter to staff, Jim Walters, senior vice president, human resources and communications, said: “We will reduce our work force by approximately 750 full-time and contract employees. This is an extremely difficult, yet necessary, step in order to realign the combined businesses with a vision for strengthening the new Textron Aviation segment.”
Textron Inc, the parent company of Textron Aviation, saw its shares trade slightly higher on the US stock market following the announcement.
Following its $1.4 billion cash purchase of Beechcraft in March, the newly-formed Textron Aviation used the recent Asian Business Aviation Conference & Exhibition (ABACE) in Shanghai as the first chance to display the two iconic brands of Beechcraft and Cessna together.
While attending the show, Corporate Jet Investor took the opportunity to catch up with Bill Schultz, senior vice president, business development (left) and Bill Harris, vice president, sales, Asia and Asia Pacific, who explained how Textron Aviation was formed. Watch the video below:
In light of the company’s announcement today, a spokesperson for Textron Aviation told Corporate Jet Investor: “The company will not be providing additional information or comment on this topic at this time.”