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Bell Helicopter To Lay Off 5% Of Employees

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Jan 26, 2008 4:41 pm US/Central

Bell Helicopter To Lay Off 5% Of Employees

FORT WORTH (CBS 11 / TXA 21) ― North Texas-based Bell Helicopter will lay off about 5 percent of its work force this year, the company announced Saturday.

Officials could not give an exact number or date, but said the layoffs were needed for cost reductions and " to better align the organizational structure with strategies for future growth."

In a release, Richard Millman, President and CEO of Bell Helicopter, acknowledged it was difficult for the company to reduce their staff, "but the facts are that Bell Helicopter must undergo some changes in the short term to prepare for the long term future."

There are about 44,000 employees internationally.

"We must reduce operating costs to assure that our products will be competitive in the marketplace.  We will do this by increasing our efficiency while reducing redundancies and flattening the organization."

The employees affected by the layoff are being notified, officials said, and added they will be offered assistance in locating other employment.

(© MMX, CBS Broadcasting Inc. All Rights Reserved.)

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