The Connecticut-based tech giant Pratt & Whitney will furlough most of its salaried workers in the U.S. on seven different days in 2015 in an effort to cut costs.
According to a company spokesperson, the following dates have been scheduled as non-work, non-paid days:
Easter weekend on Monday, April 6
Memorial Day weekend on Friday, May 22
Fourth of July weekend on Monday, July 6
Labor Day weekend on Friday, Sept. 4
Columbus Day weekend on Monday, Oct. 12
Thanksgiving holiday on Wednesday, Nov. 25
Christmas Eve on Thursday, Dec. 24
Pratt spokesperson Ray Hernandez said that although the company has recently developed new programs that will increase revenue in the future, "we won't see the benefits of our new programs for a few years."
The company has also made launched several new projects that have required large investments. As a result, Hernandez said, Pratt "continues to face significant near-term financial challenges."
Hernandez said Pratt has made a number of moves to reduce costs, of which the furloughs are one. Other changes including the implementation of labor reductions, voluntary separation programs, travel and hiring restrictions and layoffs.
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