The company said it constantly assesses its staff levels to match up with business and economic conditions and makes changes to "keep our cost structure competitive." Pratt & Whitney will provide severance pay, assistance with finding new employment, group insurance, and employee scholar program benefits to the outgoing employees.
The company said in the statement, "Our long-term outlook is very bright; however, to secure this bright future we must address some near-term challenges." The statement is very similar to one the company made earlier this year, when Pratt & Whitney laid off 350 workers.
The most recent layoffs come after a "voluntary separation program" by the company -- in which Pratt & Whitney said it was pleased with the number of employees who participated, but added that "further reductions are necessary."