United Technologies plans more job cuts in Canada

BOSTON, USA:  United Technologies Corp plans to cut more than 400 jobs at its Canadian aircraft engine unit by the end of 2010, the diversified U.S. manufacturer said on Wednesday.

Faced with the worst U.S. economy since the Great Depression, the world's largest maker of elevators and air conditioners has targeted some 11,600 job cuts -- 5 percent of its workforce -- for 2009.

The Hartford, Connecticut-based company said it would cut 250 jobs from its Pratt & Whitney Canada operations by the end of this year and another 160 in 2010 when it closes a facility in Longueuil, Quebec.

U.S. companies have aggressively cut jobs through the downturn, shaking consumer confidence in an economy that counts on consumer spending for the majority of economic activity.

A survey released on Wednesday by Financial Executives International and Baruch College's Zicklin School of Business showed that 58 percent of U.S. chief financial officers regard layoffs as the most effective corporate response to a downturn.