Pratt Seeks Buyouts, Layoffs May Be In Future
East Hartford-based Pratt and Whitney is trying to reduce its workforce and expenses through worker buyouts, and later through layoffs.
Pratt Spokesperson Ray Hernandez says the company expects several hundred employees will accept the offer.
“We will continue to assess our business needs and make the adjustments necessary to maintain our competitiveness and future growth. However, if our program objectives are not achieved through this voluntary action, we most likely will need to implement involuntary reductions shortly thereafter,” Hernandez said in and email.
In the short term, the company says it must focus on uncertainty in its commercial engine aftermarket business, and the effect of reduced military spending.
Pratt says it has won new sales in recent years, but some of those new contracts are years down the road.