Pratt & Whitney To Cut 300 U.S. Jobs
EAST HARTFORD, Conn. (AP) — Jet engine maker Pratt & Whitney is cutting 300 salaried jobs in the United States, including 200 in Connecticut.
The Connecticut-based subsidiary of United Technologies Corp. said the cuts come as it tries to keep staffing in line with business and economic conditions. A company spokesman did not specify which jobs are being cut.
Pratt & Whitney President David Hess told reporters on May 2 that the unit's sales are expected to double to $24 billion by the end of the decade. But he said the company must get through a few years as the military shifts to new fighter jets that require different engines.
High fuel costs and the weak economic recovery also are pressuring airline customers.
Shares of United Technologies fell 85 cents, or 1.2 percent, to $73.21 in afternoon trading.