Monday, February 18, 2013

United Technologies Corp. - 3,000 in 2013

http://www.masslive.com/business-news/index.ssf/2013/02/united_technologies_plans_to_cut_3000_jo_1.html


UTC says it expects to incur additional restructuring costs of about $300 million in 2013, including costs related to past job cuts and to the integration of businesses it’s acquired.
Restructuring is an “essential component of our operating margin improvement efforts and relates to both existing operations and those recently acquired,” the report says. As of Dec. 31, UTC had completed workforce reductions involving 4,000 employees, and closed 750,000 net square feet of facilities, the report says.
In 2013, the report says, the company plans to complete the majority of the remaining workforce and facility-related cost reductions initiated in 2012.
That leaves 3,000 job cuts and 1.85 million square feet of space to be vacated this year, based on figures in the report.
“We expect the actions initiated in 2012, once fully complete, to result in net workforce reductions of about 7,000 hourly and salaried employees, the exiting of approximately 2.6 million net square feet of facilities, and the disposal of assets associated with the exited facilities,” the report says

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