Textron Inc.
09/24/2024 | Press release | Distributed by Public on 09/24/2024 12:25
Regulation FD Disclosure Form 8 K
Item 7.01 Regulation FD Disclosure.
On September 21, 2024, the International Association of Machinists and Aerospace Workers (IAM) District 70, Local Lodge 774 called a strike against Textron Aviation Inc., voting to reject the four-year contract proposed by the company. The existing contract, which impacts approximately 5,000 of the approximately 10,000 employees at Textron Aviation's Wichita facilities, which include manufacturing, parts and distribution and service center facilities, expired on Sunday, September 22, 2024.
Currently, we do not have an estimate of when employees affected by the strike will resume activities or the timing for completion of negotiations with the IAM. While Textron Aviation has implemented its continuity of operations plans to help mitigate the impact of the strike, over time, the strike has the potential to have an adverse impact on the company's ability to meet its production and delivery schedules and, therefore could have an adverse effect on Textron Inc.'s financial results.