What sort of bussiness is textron in that they have notable shares in the news?”
Textron Inc’s (TXT.N) Cessna unit said it would cut another 1,300 jobs, underscoring the face of deteriorating demand for corporate aircraft and leaving the company with about half of its workforce remaining. Last week the diversified U.S. manufacturer said it planned to announce more job cuts as order cancellations continued. The company is the world’s largest maker of business jets. At its height is employed about 16,000 workers. Business jets have become something of a symbol of corporate excess in the current downturn, after the heads of big Detroit automakers outraged Congress last year by flying to Washington in private planes to ask for government money.
Here’s how Textron describes themselves on their corporate website: Textron Inc. (NYSE: TXT) is not only one of the world’s best known multi-industry companies, it is a pioneer of the diversified business model. Founded in 1923, we have grown into a network of businesses with total revenues of $14.2 billion, and approximately 37,000 employees in 29 countries, serving a diverse and global customer base. Headquartered in Providence, Rhode Island, U.S.A.,Textron is ranked 173rd on the FORTUNE 500 list of largest U.S. companies. Organizationally, Textron consists of numerous subsidiaries and operating divisions, which are responsible for the day-to-day operation of their businesses (“Textron businesses”). While we take great pride in our long history, we are even more excited by the future. Our vision is to be the premier multi-industry company, recognized for our powerful brands, world-class enterprise processes and talented people. By placing customers first in everything we do, Textron
