(WICHITA, Kan.)—Layoffs could soon be expected at a Wichita plane manufacturer after a poor quarterly report.
Cessna's parent company, Textron, said Wednesday the company is cutting Wall Street's forecast by 20 cents a share this year. A Cessna spokesman tells Eyewitness News that the demand for business jets is slower than expected.
"Cessna continues to operate within a challenging economic environment and is experiencing a slower-than-expected recovery for the aviation industry, particularly in the light jet segment," the spokesman said.
The company is revising it's forecast and implementing other cost-cutting options as a result. However, the spokesman did not specifically mention layoffs.
Despite the discouraging economic news, executives said they remain committed to new product plans. Cessna is focusing on introducing new products to the market, including the TTx, Turbo Skylane JT-A, Grand Caravan EX, Citation M2, new Citation Sovereign and new Citation X.
"We continue to respond to our customers' needs, we remain committed to new product investments," the spokesman said.