Another big security company cuts jobs
I'm just starting to figure out what this means for their security and fire businesses, but UTC is cutting 11,600 jobs. There are very few details in the release and the company makes everything from elevators to jet engines, so security isn't necessarily top of mind for mainstream reporters. Considering the consolidation they've done recently with Initial and Red Hawk, however, I've got to think there will be some trimming in their installation business somewhere. Hopefully I'll have more on this in the newswire Thursday.