United Technologies Corp., a manufacturer of aerospace systems, elevators and helicopters, said on March 9 it will cut 11,600 jobs worldwide to cope with the global economic slowdown.
UTC president and chief executive Louis Chenevert said the company would expand its 2009 restructuring by $600 million to $750 million in response to the sharp global slowdown.
The belt tightening will result in a reduction in global headcount of 11,600 and further blue-collar scalebacks could occur during the year depending on production required by market conditions, he said.
Copyright Agence France-Presse, 2009
