Projo Biz Blog

Textron Inc. notified about 20 employees in Rhode Island today that they will lose their jobs as part of the company's plan to restructure its Textron Financial Corporation subsidiary.

The company will reduce that unit's 1,200 person workforce by about 9 percent, said Karen Gordon Quintal, a spokeswoman for Textron. About 210 Textron Financial employees work in Rhode Island -- about 180 at the parent company's world headquarters in Providence, and about 30 at a customer care center in Warwick.

The company plans to eliminate about 20 of those 210 jobs, she said. There is no set time frame by which all the layoffs will occur, she said.

"It will vary, depending on their specific job function," she said. Textron will allow the affected employees "an appropriate amount of time to transition out of their position."

Textron employs 565 people in Rhode Island and about 1,000 in Massachusetts, largely at the Textron Defense Systems unit in Wilmington.

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