UNITED TECHNOLOGIES: Company cutting 11,600 jobs, earnings outlook
Written on March 12, 2009
United Technologies Corp., saying the downturn in its core markets is worse than expected, cut its 2009 profit forecast 13 percent Tuesday and will eliminate 11,600 jobs, or 5 percent of its global work force.
The announcement by the maker of Otis elevators and Sikorsky helicopters reverses the guarded optimism of a month ago instant payday loans. The company now says the markets for commercial aerospace and global construction have worsened since December as worldwide construction and aerospace orders slowed.
Filed in: economics.