Cessna averts strike, then lays off 700

Just three days after dodging a machinists strike, Cessna CEO Jack Pelton announced 700 more layoffs in Wichita, citing the stalled economy and dearth of new orders, according to a story at AviationWeek.com. The story, which includes a copy of a letter Pelton sent to workers (which you can see here), notes that “gains made in the first half of the year have stalled and Cessna’s performance continues to mirror the lackluster economy.”