United Technologies Corp to Exit 1.85M SF in 2013


United Technologies Corp HQ Building, Courtesy of Wikipedia

Hartford, CT-based United Technologies Corp reported Thursday that in 2013 it will complete the asset-exit-and-disposition strategy it initiated in 2012, which includes 2.6 million net square feet of facilities.

In 2012, United Technologies Corp, which provides high tech products and services to the building systems and aerospace industries, initiated reductions to its workforce that will include 7,000 hourly and salaried employees.

Approximately 4,000 employees were impacted by this initiative in 2012. United Technologies Corp has about 26,000 employees in Connecticut and 75,000 employees around the country.

The company also started exiting and disposing of assets. In 2012, 750,000 net square feet of facilities were exited. The company says it will exit – in total – approximately 2.6 million net square feet of facilities, and dispose of the assets associated with exited facilities.

“We are targeting to complete in 2013 the majority of the remaining workforce and all facility related cost reduction actions initiated in 2012,” the company reported on Thursday.