Collins Aerospace aims to cut $1 billion by 2025
BPC Staff May 19, 2021 | 3:29 pm
<1 min read time
83 wordsAll Latest News, Economic Development, Manufacturing, Statewide NewsCedar Rapids Gazette: Collins Aerospace’s cost-cutting goal of $600 million is now up to $1 billion by 2025, company President Stephen Timm told investors Tuesday. “About half” of the cost reductions already have happened, a company spokeswoman said. While Timm did not specifically mention staff layoffs, Collins Aerospace laid off more than 100 employees at its Cedar Rapids, Decorah and Bellevue facilities earlier in the pandemic. The company, the largest employer in Cedar Rapids, employs about 9,000 people in Cedar Rapids and Coralville.
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