Cessna posted an $8 million loss and slow sales in the first quarter of 2013. The company announced it will halt production of various entry-level business jets, in an effort to slim down its workforce. "The light market just hasn't recovered at this point, contrary to our expectations, and so we're going to scale back some of the production and reduce the number of aircraft that are out there in that space," said Scott Donnelly, CEO of Cessna's parent company Textron.

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