Textron announces plunging earnings, slashing of finance operations

12/23/2008 | Sun (Baltimore), The

Textron, the manufacturer of Cessna jets and Bell helicopters, said Monday that its adjusted earnings from continuing operations will be as much as two-thirds lower than originally projected, and net losses could reach 91 cents a share. To boost liquidity, the company plans to all but shut down its commercial finance operations, and 2,200 jobs have been eliminated.

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Sun (Baltimore), The

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