Rockwell Collins is cutting 300 high paying jobs to reduce costs as trend followers in this global recession. It doesn't stop there either, so now with 300 fewer paychecks you see a sizeable impact on spending in general and especially on unneeded high ticket items, but on top of that you have a hiring freeze (no replacement paychecks), reduced merit raises (inflation eating away standard of living for those lucky to remain employed), and finally more clampdown on spending (such as computer equipment, business meals, and business trips).
These guys make aviation and aerospace computing equipment. Although fuel prices have come down and potentially make burning it by flying all over here and there more attractive, the realities of the economic souring have set in and their business prospects are thusly reduced. Most of these layoffs will happen in Iowa.
Rockwell Collins is headquartered in Cedar Rapids, IA.
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