FORT WORTH, Texas (AP) — Bell Helicopter is laying off 325 employees as the company continues to downsize because of declining defense spending.
The layoffs, announced Monday, will largely affect operations at its Fort Worth-based headquarters.
The Fort Worth Star-Telegram reports (http://bit.ly/1fMOGCN ) these layoffs bring Bell's total staff reductions to more than 700 since early 2013.
The company, a division of Rhode Island-based Textron, reported a $76 million drop in revenues, or 8 percent, to $873 million, when Textron released its first-quarter earnings last week.
Bell Helicopter CEO John Garrison said in a memo to employees the job cuts are necessary to ensure the company remains a viable business.
The company builds commercial and military aircraft, including the V-22 Osprey attack helicopter. Bell Helicopter has additional plants in Amarillo and Mirabel, Canada.
Information from: Fort Worth Star-Telegram, http://www.star-telegram.com