Rockwell Collins Slashes Jobs, Freezes Pay
CEDAR RAPIDS, Iowa (AP) -- Rockwell Collins Inc., a defense contractor and manufacturer of parts for private jets and commercial airlines, is cutting 600 jobs and freezing salaries for all executives and managers at 2008 levels.
The cuts include 500 salaried employees and 100 contract workers.
The layoffs are in addition to the reduction of 300 employees, or 1.5 percent of the company's work force, announced in November.
Cedar Rapids-based Rockwell Collins is facing a significant downturn in its commercial jet business, which Chief Executive Clay Jones says is likely to continue into this year. It includes commercial jet manufacturers like Boeing Co., which suffered from a strike last fall and private business jet manufacturers, which are cutting production on lower demand.