Cessna Cuts 700 Jobs, Blames Stalled Recovery

[Purveyor]

By ROXANA HEGEMAN

WICHITA, Kan. (AP) -- Cessna Aircraft announced Tuesday it will cut another 700 jobs, saying it has not seen the growth and recovery that it expected this year.

Cessna CEO Jack Pelton told workers in an e-mail that the company's performance mirrored the "lackluster economy."

"While cancellations have slowed, the recovery and growth we expected to see throughout the year have not materialized, and the timing of any recovery remains uncertain," Pelton wrote. "This requires additional adjustment to our production schedules."

The latest round of layoffs comes on top of 8,000 jobs Cessna has shed since late 2008 as it cut its work force by half, Cessna spokesman Doug Oliver said. Most of the layoffs have been at the firm's Wichita facilities, where 6,200 people now work compared to 12,400 in late 2008.

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http://hosted.ap.org/dynamic/stories/U/US_CESSNA_LAYOFFS?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT&CTIME=2010-09-21-14-27-16

[golddigger]

1. Thank COD the recession is over.

[DJ13]

2. But the recession ended a year ago

The government owned economists wouldnt lie, would they?

[AnArmyVeteran]

3. Stalled recovery. LOL!!!