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United Technologies cutting jobs, outlook

United Technologies cutting jobs, outlook

United Technologies Corp., which owns Pratt & Whitney jet engines and Sikorsky Aircraft, expects to cut 11,600 jobs and is lowering its 2009 forecast because of a deteriorating commercial aerospace market.
The moves, part of an expanded $750 million restructuring program, are being driven by a decline in anticipated revenue, which is now expected to total $55 billion this year, down $2.7 billion from a December estimate.
Analysts polled by Thomson Reuters expected $55.2 billion.
United Technologies also now forecasts earnings per share between $4 and $4.50, less than the $4.60 analysts anticipated.


Updated : 2021-02-26 15:47 GMT+08:00