Sikorsky to cut 1,400 jobs, citing falling oil production

AP News
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Posted: Jun 02, 2015 3:43 PM
Sikorsky to cut 1,400 jobs, citing falling oil production

STRATFORD, Conn. (AP) — Sikorsky Aircraft Corp. says it's cutting 1,400 jobs in the coming year as the helicopter manufacturer faces declining demand for shuttling workers to offshore oil platforms.

The Stratford, Connecticut, subsidiary of United Technologies Corp. on Tuesday also cited weak demand for international military products.

The reduction in production-related jobs affects facilities in Connecticut, Pennsylvania and Poland. Sikorsky will consolidate production volumes and exit a facility in nearby Bridgeport.

The job cuts would amount to about 9.2 percent of Sikorsky's workforce of about 15,200 people.

Spokesman Paul Jackson said the cuts are not related to a review by United Technologies of whether to sell, spin off or divest Sikorsky. A decision is expected to be announced in about a month.

Sikorsky posted 2014 sales of nearly $7.5 billion, up 19 percent from 2013.