Most of us expected this to happen, HOWEVER nobody expected the layoffs to be this wide and this deep. Overall, we all know things need to change and we ought to get leaner, but 700+ people for a relatively small corporation such is Textron in the national sense is way too big. Also, the breath of the cuts is stunning, I hear that we'll have SVPs leaving, middle manager and hourly guys all departing at the same time. It almost looks like the senior execs had quite a goal in terms of how many people to cut and they kept cutting until the numbers added up. God bless us all as I know that many of my friends let go today have families and parents to support and jobs are very hard to find today.
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hourly = serfs
Middle managers and hourly people always get screwed, that's the nature of the game, it's a semi feudal system over at Textron
The economy is improving and hopeful all of us will have better chances, we all learned something at Textron, so let's see what tomorrow brings. God bless.