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Textron to cut 725 jobs as part of restructuring plan
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(Reuters) -Defense manufacturer Textron (NYSE:TXT) said on Tuesday it would cut 725 jobs as part of its restructuring plan in an attempt to reduce operating expenses.
Textron is set to downsize jobs in its Industrial, Bell and Textron Systems segments.
The company said the restructuring plan would result in impairment charges within its powersports product line at Textron Specialized Vehicles and fixed assets at Kautex.
It expects to incur pre-tax special charge of $115 million to $135 million in the fourth quarter.
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