Officials at Bell Helicopter Textron [TXT] Oct. 29 said the company would lay off approximately 500 workers, representing about four percent of the workforce, following the Defense Department's decision earlier in the month to terminate the potential $6.2 billion Armed Reconnaissance Helicopter (ARH) development contract. Richard Millman, president and CEO of Bell Helicopter, said, "With the loss of the ARH-70A program, we must make changes in our staffing and structure to reduce costs and ensure that our products remain competitive.…
ARH Cancellation Triggers About 4 Percent Layoff At Bell Helicopter
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