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United Technologies Slashes 600 Jobs in Sikorsky Unit on weak demand from the military

 (Image source: dallasnews.com)

United Technologies Corporation (NYSE:UTX) will eliminate 600 jobs within its Sikorsky Aircraft unit. The Sikorsky Aircraft unit is one of the biggest suppliers of helicopters to the Pentagon, such as the Black Hawk helicopters. However, recent cuts in the defense budget and drawdowns of troop levels in Afghanistan have eased demand for military helicopters. As a result, the company is cutting back and adapting to the new norm. United Technologies is increasingly pursuing the international arena to makeup the shortfall in U.S. demand.