Bell's new logo. Image courtesy of Bell
According to a statement obtained by R&WI, Bell is eliminating 120 employees from its global workforce.
“On Monday, approximately 120 employees across our global workforce were notified their roles have been eliminated. As a global company, we must ensure our resources are aligned with business realities and customer demand, while continuing to make investments to remain responsive and cost competitive,” Bell said in an emailed statement.
A report published by Tennessee-based WJHL stated that the layoffs will impact the company’s Piney Flats facility.
Textron CEO Scott Donnelly recently commented on Bell’s first quarter financial performance during a quarterly earnings call in which he noted that between January and April this year, the newly re-branded company achieved $752 million in revenue. That included an 8% increase in military revenue, which was “partially offset by lower commercial revenues due to mix of aircraft sold,” according to Textron’s first quarter earnings report.