Textron Aviation to cut jobs citing ‘economic challenges’ amid COVID-19 pandemic

WICHITA, Kan. (KWCH) The Board of Directors of Textron Inc. approved Thursday a restructuring plan which includes job cuts within the company.

According to documents filed with the U.S. Securities and Exchange Commission, the company plans to reduce operating expenses through “headcount reductions, facility consolidations and other actions in response to the economic challenges and uncertainty resulting from the COVID-19 pandemic.”

The restructuring plan primarily impacts the TRU Simulation + Training business (TRU) within the Textron Systems segment, and the Textron Aviation and Industrial segments.

The company said it expects to incur costs in the range of $70 million to $80 million during the second quarter due to temporary idling of manufacturing facilities as a result of the COVID-19 pandemic. Manufacturing operations at these facilities have largely resumed as restrictions have been lifted.