BUSINESS

Helicopter maker Sikorsky cuts 1,400 jobs, citing falling oil production, weak military demand

06/02/2015 02:45 EDT | Updated 06/02/2016 05:59 EDT
STRATFORD, Conn. - Sikorsky Aircraft Corp. says it's cutting 1,400 jobs in the coming year as the helicopter manufacturer faces declining demand for shuttling workers to offshore oil platforms.

The Stratford, Connecticut, subsidiary of United Technologies Corp. on Tuesday also cited weak demand for international military products.

The reduction in production-related jobs affects facilities in Connecticut, Pennsylvania and Poland. Sikorsky will consolidate production volumes and exit a facility in nearby Bridgeport.

The job cuts would amount to about 9.2 per cent of Sikorsky's workforce of about 15,200 people.

Spokesman Paul Jackson said the cuts are not related to a review by United Technologies of whether to sell, spin off or divest Sikorsky. A decision is expected to be announced in about a month.

Sikorsky posted 2014 sales of nearly $7.5 billion, up 19 per cent from 2013.