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HARTFORD, CT-Due to the fiscal woes suffered by its aerospace businesses since the terrorist attacks on September 11, United Technologies Corp., plans to eliminate 5,000 jobs or approximately 3% of its total worldwide workforce in the next 12 months. However, at least for now, the company does not plan to close any offices or manufacturing facilities.

Company spokesman Paul Jackson says that the company, which is headquartered at “The Gold Building” (1 Financial Plaza) in downtown Hartford, will make reductions in its corporate headquarters staff as well as several other divisions which have operations across the state of Connecticut. The firm employs 154,000 workers worldwide.

Jackson notes that approximately 1,500 jobs will be lost at its Hamilton Sundstrand aerospace division, which is headquartered in Windsor Locks. Its jet engine manufacturing subsidiary Pratt & Whitney, headquartered in East Hartford, will have 2,500 jobs cut from its worldwide workforce. Pratt & Whitney also has operations in Trumbull. The remainder of the job reductions will come from its Carrier air conditioning division, Otis elevator division, both of which are based in Farmington, its United Technologies Research Center operations in East Hartford and United Technologies corporate headquarters staff.

Sikorsky Aircraft, the company’s helicopter building subsidiary, will be unaffected by the job reductions. Jackson notes that Sikorsky, which is headquartered in Stratford, is adding personnel at the moment.

The job reductions were announced as part of United Technologies’ third quarter 2001 financial report. Commenting on the company’s fiscal performance in the third quarter, George David, chairman and chief executive officer of United Technologies says, “UTC demonstrated yet again the ability to perform under difficult conditions during the third quarter. Carrier continues to face challenging conditions and our third quarter restructuring actions will help to streamline and improve the business.”

He continues, “On the aerospace side, we are acting quickly to address the impact on our businesses of the monumental tragedy on September 11. These impacts will lead to an anticipated loss of approximately 5,000 positions, to be spread over the next year.”

United Technologies Corp. reports a 14% increase in third quarter 2001 diluted earnings per share to $1.12 as compared to $0.98 in the same quarter of last year. Net income for the third quarter was $565 million, 14% higher than the $496 million reported in the comparable period last year. Revenues for the third quarter were $6.9 billion, which were 7% higher than the previous year.

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