TXT - Industrial Major Textron To Slash 2% Of Workforce Anticipates $75M In Annual Savings | Benzinga
Textron Inc (NYSE: TXT) said its Board of Directors has approved a restructuring plan developed by management in connection with the company’s annual operating plan process.
The restructuring plan is expected to slash about 725 positions across the impacted segments, representing 2% of the company’s global workforce.
According to the plan, Textron will reduce operating expenses through headcount reductions at the Industrial, Bell and Textron Systems segments.
In the Industrial segment, jobs cuts are expected at Textron Specialized Vehicles, resulting from lower demand for certain powersports ...