Pratt & Whitney Rocketdyne Cuts 100 Jobs

According to the San Fernando Valley Business Journal Pratt & Whitney Rocketdyne cut 100 jobs yesterday.
“Over the past several years, (Rocketdyne) has also put in place a number of aggressive cost-cutting measures, including reducing facility space, travel reductions, merit pay deferrals, furloughs and significantly reducing contract labor and other service providers,” according to a statement released by the company.

The cuts come as GenCorp Inc., Aerojet’s parent company, completes the previously announced acquisition of Pratt & Whitney Rocketdyne (PWR) from United Technologies Corporation in a deal worth $550 million. The deal is expected to close in the first half of 2013.

Some cuts were expected as GenCorp saw the deal as a way of consolidation and cost saving benefits for both PWR and Aerojet.