United Technologies Calls Off 4,000 Furloughs

90% of government workers furloughed last week will be returning to work

   

UnitedTechnologies185 United Technologies Calls Off 4,000 FurloughsUnited Technologies (UTX) has decided to call off furloughs for 4,000 of its workers after the Pentagon said that most civilian employees would be returning to work.

United Technologies was scheduled to furlough 2,00 of its workers today and was going to furlough an additional 2,000 if the government shutdown extened through this week. The company decided to cancel these furloughs after the Pentagon announced that 90% or more of the 350,000 that it furloughed last week will be coming back to work. This will include the inspectors that are needed for United Technologies to continue with its contracted work. Civilian defense employees that won’t be returning to work include those in the information technology, auditing and public affairs fields. Other companies, such as Boeing (BA), don’t plan to cancel furloughs until they have “specific information” regarding the the plans to reinstate workers, reports Bloomberg.

United Technologies employs about 218,300 workers, which means that the company’s furloughs would have only affected about 2% of its employees.


Article printed from InvestorPlace Media, http://investorplace.com/2013/10/united-technologies-calls-off-4000-furloughs/.

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