Sikorsky Aircraft to eliminate 600 jobs

STRATFORD, Conn. — The company that manufactures Black Hawk helicopters said Friday it is eliminating 600 jobs, most of them in Connecticut, as it struggles with cuts to U.S. defense spending and a reduction in the demand for the workhorse aircraft used by the military to strike targets and ferry troops in Iraq and Afghanistan.

The cuts at Sikorsky Aircraft Corp., the Stratford, Conn.-based subsidiary of United Technologies Corp., will take place over the next several weeks, spokesman Paul Jackson said.

“These decisions are always difficult to make but necessary to protect the company’s competitiveness and future,” Jackson said.

Sikorsky is feeling the impact of reduced military spending due to budget cuts and a scaled-back U.S. presence in Afghanistan. Last month, Chief Financial Officer Greg Hayes said sales of the Black Hawk had fallen about 20 percent year over year.

Revenue and profit at Sikorsky have fallen in each of the last two years. Revenue in 2013 was $6.25 billion, down 8 percent from 2012 and off by 15 percent from 2011. Profit last year was $594 million, down 17 percent from 2012 and 29 percent lower than in 2011.

The company has about 8,200 employees in Connecticut and 16,500 around the world.

Jackson said the cuts will be split between salaried and hourly positions. He said transition assistance will be provided to employees who lose jobs.

More in Herald Business Journal

Tesla rolls out the design for its 500-mile electric big rig

The truck will have an Autopilot system, which can maintain a set speed and slow down in traffic.

How Airbus’s A380 deal with Emirates evaporated in Dubai

It came down to concern by Emirates that Airbus might shut down the jumbo program.

Equipment rental and sales business H&E opens Mukilteo shop

Company hopes to capitalize on construction occuring in northwest Washington.

New Chick-fil-A draws dozens of campers in Bothell

A second restaurant of the popular chain is opening on Thursday.

Tulalip Resort Casino to feature locally grown hazelnuts

The resort wanted to put a focus on meals created with the nut.

Alderwood Water general manager named president of state association

Alderwood Water & Wastewater District General Manager Jeff Clarke has been installed… Continue reading

Boeing earns top marks for LGBTQ workplace policies

Boeing was one of 609 businesses nationwide to earn a 100-point score… Continue reading

Aerospace workers adjust to changing industry

The number of Boeing workers dropped almost 10 percent since last year

Derided by critics, trickle-down economics gets another try

The concept — also known as supply-side economics — has frequently drawn ridicule.

Most Read