LayoffBlog.com

March 10, 2009

United Technologies to Cut 11,600 Jobs Worldwide

United Technologies Corp. plans to cut 11,600 jobs as the global recession and credit crunch lead to lower sales and profit than previously projected by the maker of Otis elevators and Carrier air conditioners.

The company also will reduce its share buyback plan by 50 percent to $1 billion, Hartford, Connecticut-based United Technologies said in a statement today.

Source: Bloomberg

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