UTC May Furlough 5,000 If Government Shutdown Continues
HARTFORD, Conn. (AP) _ United Technologies Corp. says it may furlough more than 5,000 workers if the U.S. government shutdown continues into next month.
The company said Wednesday that its Sikorsky division, which makes Black Hawk helicopters, would be hit first. It expects nearly 2,000 employees, including those employed at facilities in Connecticut, Florida and Alabama, will be furloughed on Monday.
The Hartford, Conn.-based manufacturer said it would halt some defense manufacturing because government inspectors themselves have been furloughed. That leaves the company without the necessary federal approvals to make military products.
If the shutdown continues through next week, the furloughs would extend to its Pratt & Whitney and UTC Aerospace Systems division, bringing the total number of employees on hold up to 4,000. That number could exceed 5,000 if the shutdown stretches into next month.
United Technologies employs about 218,300 employees. Of its annual revenue of $57.7 billion in 2012, $10.1 billion came from the U.S. government.
The partial government shutdown, which took effect Tuesday, has idled roughly 800,000 “non-essential” federal workers for an unknown period of time.
Shares of the company fell $2.40 to close at $104.98 Wednesday. They were unchanged in after-hours trading.
(© Copyright 2013 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)