Sikorsky to shutter Bridgeport plant
Sikorsky Aircraft Corp. said it will move its Bridgeport operations at 1210 South Ave. to its facility in Stratford in conjunction with an announcement it is cutting 1,400 jobs in the coming year, 9.2 percent of its global workforce of 15,200.
The job cuts remain unspecified. Several reports cite facilities in Connecticut, Pennsylvania and Poland as in the cross-hairs, with about 180 in Connecticut, but Bridgeport officials said they know of no pink slips associated with the deal. And the president/CEO of the Bridgeport Regional Business Council, Paul Timpanelli, said Sikorsky will continue as “a major regional employer and positive regional economic force.”
Municipal leaders said the move will free up needed space in a development hot spot, the Bridgeport Eco-Technology Park.
Sikorsky will continue to own and to pay taxes on the property until it sells it.
“This frees up an existing 250,000 square feet of existing buildings,” said David Kooris, Bridgeport”™s director of its Office of Planning and Economic Development. “The upside is that this is where the city has seen most of its job growth, in Eco-Tech Park.” The move, he said, helps resolve what he termed “the lack of land” in the area. He did not have the acreage figure available.
Mayor Bill Finch picked up the theme in a statement, saying, “One challenge has been we lack enough land to offer to companies that are inquiring about opening businesses in Bridgeport. This will help us bring in new businesses that will create new jobs for Bridgeporters.
“Unfortunately, the global market for aircraft has prompted a consolidation of facilities,” Finch said.
Kooris said the move is part of Sikorsky”™s efforts to consolidate its footprint in advance of a possible sale.
A Sikorsky spokesman said the job cuts are not related to a review by Hartford-based parent company United Technologies as to whether to spin off, sell or divest Sikorsky. Weaker demand for military equipment was also reported. A decision on that is expected in about a month. Forbes reported that Boeing, Lockheed Martin and Textron were potential buyers.
Sikorsky offered decreased offshore oil work, with its built-in need for helicopter shuttles, as a reason for the cutbacks. A notice of layoffs had not been published on the state Department of Labor website as of June 3.
“Sustained decreases in oil prices continue to drive significant declines in capital investments by oil companies in offshore oil exploration projects impacting Sikorsky and resulting in reduced production levels,” Sikorsky spokesman Paul Jackson said. “Additionally, Sikorsky continues to experience softness in demand for certain international military products.
“We will work closely with the impacted employees to ease the transition, and with all our employees, customers and suppliers to ensure continued delivery on all our business commitments,” he said.
The news comes just days after Sikorsky for the first time flew its new S-97 Raider helicopter. In a one-hour Florida test flight, the helicopter engaged in a series of maneuvers and low-speed flight.
Sikorsky posted 2014 sales of nearly $7.5 billion, up 19 percent from 2013.
Timpanelli joined Finch and Kooris in saying the consolidation presents an opportunity to further expand the city”™s Eco-Technology Park, which has become a model for green energy and for business attraction.
“The decision by Sikorsky to close its Bridgeport South End plant, a location that has been a part of their manufacturing plant inventory for many years, and recently employed hundreds of workers, does not come as a surprise,” Timpanelli said. “Sikorsky, a long-time quality employer in our region and specifically in Bridgeport, is in the process of consolidating manufacturing functions around the world to better position the company to compete in an ever-changing global marketplace.”
A previous version of this article incorrectly included a statement from former Connecticut Secretary of State Susan Bysiewicz.