Despite impending layoffs, Cessna sees better days ahead

04/1/2009 | Seattle Times, The

Cessna Aircraft Co. plans to announce more job cuts when corporate parent Textron Inc. releases quarterly results April 29, and factories will shut down for two weeks this summer, instead of the traditional one-week hiatus. But despite the near-term bad news, CEO Jack Pelton told employees in an e-mail on Tuesday that the global aviation downturn may be nearing its end, as evidenced by stock market and housing trends. "We take hope in all this, though it is tempered when the focus returns to our business and our industry, which historically lags well behind the economic cycle," he said.

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Seattle Times, The

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