Textron is laying off 875 people including some in its aviation division and closing some facilities just before Christmas as part of a restructuring plan outlined in a Securities and Exchange Commission filing on Thursday. The company announced on Thursday that it would lay off an unspecified number of salaried employees but refused to offer details. The Wichita Eagle uncovered the SEC filing that shows the length and breadth of the restructuring but doesn’t name the facilities that will be shuttered. The filing says the plan will “improve overall operating efficiency through headcount reductions, facility consolidations and other actions.”
The filing covers all of Textron’s divisions but layoffs appear to be concentrated in the aviation division. The exact number of positions affected in the aviation division isn’t specified. “The headcount reductions include business support and administrative functions within both segments,” the filing reads. “At Textron Aviation, the headcount reductions are primarily related to engineering positions, reflecting completion of the Longitude certification activities and reduced requirements for ongoing development programs.” Textron says it will cost between $65 million and $80 million in severance and facility closure costs to accomplish the restructuring.