Pratt and Whitney Offers Employee Buyouts

Just one month after Pratt and Whitney laid off 280 of its Connecticut workers, the company offered voluntary buyouts to cut down its workforce even more.
The company said the voluntary separation options are for hourly employees age 55 and older. The employees will receive a competitive severance, bonus and benefits package and will be able to retain their education benefits for one year.
The company is hoping to eliminate about 100 positions in Connecticut.
In a statement, a Pratt and Whitney spokesman said, "In response to global economic conditions and the impact on the aerospace industry, we continue to reduce costs in order to remain competitive in a challenging economic environment."
City officials said they are glad the company is giving its employees the buyout option.
"I think it’s a nice approach if you have people who are able to retire as opposed to laying off people. If you have the flexibility and time to do that which Pratt appears to have that flexibility," said East Hartford Mayor Melody Currey.
The employees have till Friday to take advantage of the buyouts. After Pratt and Whitney sees who takes them, officials will decide if the company needs layoffs.
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