Employees at Pratt & Whitney in Northern Palm Beach County will receive five days off, without pay, as the parent company of both Pratt and Sikorsky Aircraft lowered its 2009 profit forecast and announced that 11,600 workers will be laid off in 2009.
Pratt’s portions of the sprawling facility along the Beeline Highway in Northern Palm Beach County will be shut down, along with all Hartford, Conn.-based United Technologies Corp.’s Pratt & Whitney locations in the United States, on April 13, May 22, Sept. 4, Oct. 12 and Nov. 25.
“The furlough program is a part of our overall efforts to reduce costs with a focus on ensuring a strong future for the company, our employees, customers and shareowners,” the company released in a statement.
The moves, part of an expanded $750 million restructuring program because of the deteriorating commercial aerospace market, are being driven by a decline in expected revenue, which is now seen totaling $55 billion this year, down $2.7 billion from a December estimate.
Besides the furlough days, Pratt & Whitney has limited hiring, decreased the use of contract and temporary personnel, cut back on travel and deferred merit pay increases for 2009. (more…)