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Holding company with subsidiaries in aircraft, industrial and finance business.

40 Westminster St.
Providence, RI 02903
Employees: 32,000
CEO: Scott Donnelly
Stock Symbol: TXT

Website: http://www.textron.com

Career Site

Textron is a company involved in a global network of aircraft, defense, industrial and finance businesses to provide customers with innovative solutions and services. These businesses include: Bell Helicopter, Cessna Aircraft, Jacobsen, Kautex, Lycoming, E-Z-GO, Greenlee and Textron Systems

Textron has 32,000 employees and operations in 25 countries.

The company's main operating businesses include:

- Bell - Bell Helicopter is a leader in the global helicopter industry and the pioneer of tiltrotor aircraft.

- Cessna - This segment consists of Cessna Aircraft Company, the leading worldwide manufacturer of general aviation aircraft, with product lines spanning single-engine piston aircraft, utility turboprop aircraft and Citation business jet models. Citation customers have access to a network of 10 company-owned Citation Service Centers.

- Industrial - The Industrial segment is a diverse collection of high-powered industrial businesses including Greenlee, E-Z-GO, Jacobsen, Kautex, and the Fluid & Power group of companies as well as various smaller brands within the Fluid & Power group.

- Defense and Intelligence - Textron Systems has been providing innovative solutions to the defense, homeland security and aerospace communities for over 50 years. Textron Systems is known for its precision smart weapons, intelligent battlefield systems, surveillance systems, intelligence software solutions, aircraft control components, piston engines, armored vehicles and unmanned aircraft systems.

- Finance - Textron Financial is a diversified commercial finance company with core operations in Aviation Finance, Asset-Based Lending, Distribution Finance, Golf Finance, Resort Finance, and Structured Capital.

In 2011, Textron reported revenues of $11.27 billion and net income of $242 million.


Textron started as a small textile company in 1923, when 22-year-old Royal Little founded the Special Yarns Corporation in Boston, Massachusetts. Revenues that first year were just $75,000.

Textiles boomed during World War II, ushering in a period of growth and activity for the company, which was now doing business as Atlantic Rayon Corporation. A major line of business during the war was parachutes. In 1943, with World War II government contracts dwindling, Little faced the challenge of declining revenue and underutilized production capacity. He developed a vertically integrated company that controlled every operational aspect from raw goods processing to distribution. He moved quickly from producing parachutes to making lingerie, blouses, bed linens and other consumer goods.

This new operation needed a brand name. Atlantic Rayon's advertising agency suggested "Señorita Creations," but it was rejected in favor of Textron. The "Tex" was derived from textiles and the "tron" came from synthetics such as "Lustron." The theme of the advertising reflected Little's vision: "From yarn to you, it's Textron all the way."

Marking a major milestone for the company, Textron was listed on the New York Stock Exchange on December 22, 1947. By 1949, Textron's sales had reached $67.8 million.

In 1960, the company would purchase Bell Aerospace and E-Z-GO, maker of golf cars.


Healthcare Benefits

Medical and Prescription Drugs - Textron businesses offer a leading-edge consumer-driven healthcare plan to non-bargained and some bargained employees. . This plan includes a number of unique features and puts employees and their families in control of their healthcare choices and how to spend healthcare dollars. It also encourages them to maintain good health and spend healthcare dollars wisely.

Features include:

* Choose any provider without having to get a referral
* Flexibility to personalize benefits to specific needs through a choice of three coverage options and a company-funded Health Reimbursement Account or Health Savings Account..
* A Health Savings Plan (HSA) option to help employees save for short- and long-term healthcare expenses, which also enjoys tax advantages.

Dental - Textron's businesses offer dental plan options that include coverage for preventative and diagnostic care, basic and major restorative care, and orthodontia for eligible children.

Vision - Most Textron businesses offer a vision service plan that covers annual eye examinations (including corrective lens fitting), eyeglass frames, eyeglass and contact lenses and discounts on laser vision corrective services.

Flexible Spending Accounts - Most Textron businesses offer flexible spending accounts (FSAs), which allow employees to set aside pre-tax dollars annually through payroll deduction for eligible healthcare and dependent care expenses.

Income Protection

Life Insurance - Textron businesses provide company-paid life insurance equal to a percentage of annual base salary. Employees can also purchase supplemental and dependent insurance at competitive group rates.

Accident Insurance - Textron businesses provide company-paid accidental death and dismemberment insurance equal to a percentage of annual base salary. Employees can also purchase additional accidental death and dismemberment insurance at competitive group rates.

Business Travel Accident Insurance - Textron businesses provide its employees with insurance while traveling on company business equal to a percentage of annual base salary based on the type of loss incurred.

Disability Plans - Most Textron businesses provide disability benefits to compensate eligible employees during short- or long-term disabilities. At some locations, employees may have the opportunity to purchase voluntary long-term disability benefits.

Retirement Income Benefits

Pension Plans - Most Textron businesses also provide a defined benefit pension plan to eligible employees to provide income during retirement years.

Textron Savings Plan (TSP) - 401(k) Plan - Most Textron businesses offer the opportunity to enroll in a 401(k) plan where employees can contribute a percentage of pay on a pre-tax or after-tax basis via payroll deductions. For eligible employees, Textron may also make a matching contribution of the pay you save. You elect your investment allocation from a diversified array of available fund choices. You become fully vested in Textron's matching contributions and earnings after five years of Textron service. New employees are automatically enrolled in the plan at 3% of pre-tax pay but can disenroll within the first 60 days of employment or can elect a different contribution rate.

Textron Retirement Program - Most salaried employees are also eligible for this program where the value of your retirement benefit would be the greater of a defined contribution retirement account or a traditional defined benefit formula annuity. At retirement, the value of the Retirement Account can be taken as a lump sum or a monthly check. If the value of your Retirement Account is less than the value of the modified defined benefit pension, you will receive the difference as a monthly pension.

Work/Life Balance

Holidays and Vacations - Employees enjoy an average of 10 to 12 paid holidays per year and generous vacation schedules. Specific schedules vary depending on the business and employee eligibility.

Personal/Sick Time - Each of the Textron businesses has benefits and policies relating to time to be used for brief personal illness or injury and/or doctor's office visits, personal business, bereavement, observance of religious holidays, volunteering, or brief personal family illness or emergencies. These policies are based on the business and employee needs as well as employee eligibility.

Leaves of Absence - Each Textron business has its own Leave of Absence policy.

Assistance Programs

The availability of the benefits and policies noted below vary based on the business and employee needs.

Employee Assistance Resource and Referral Program - Confidential, professional assistance is available to employees and their family members to help with a wide range of work, home, personal and family issues. This company-sponsored benefit provides information, consultation and referral services in such areas as child and elder care, educational planning, and counseling services.

Adoption Assistance - Textron businesses provide employees with some financial assistance to help defray the cost of adoption expenses. Benefits and policies vary based on the business and employee needs.

Educational Assistance/Professional Development - Textron businesses may provide eligible employees with financial assistance to expand their capabilities and enhance job productivity through a variety of on-site, off-site and e-learning personal development training programs and tools. Benefits and policies vary based on the business and employee needs of each Textron business, as well as eligibility.

Discounted Auto and Home Insurance - Textron provides employees with the opportunity to purchase discount auto and home insurance through MetLife and to pay the premiums through payroll deduction.

Discounts on Textron Products - Textron provides employees with the opportunity to purchase certain discounted Textron products via the internal employee web portal.

Employee Award and Recognition Programs

Service Awards - Many of our businesses sponsor service award programs to celebrate and recognize employees when they reach a significant service milestone. For further information, contact the Human Resources office of the relevant business.

Volunteer Services / Employee Recognition Program - Many Textron businesses sponsor a variety of volunteer and community-service programs as well as peer-to-peer and manager-to-employee employee recognition programs. Textron supports employees' volunteer activities in local communities and going the "extra mile" in supporting our customers. For further information, contact the Human Resources office of the relevant business.

Chairman's Award for Innovation - The Chairman's Award for Innovation recognizes and rewards Textron employees whose exemplary innovation have led to significant and measurable improvements in Textron's products, technology or business practices and contributed directly to Textron's growth, profitability or competitive position. Awards are presented annually in two categories: Products & Technology and Business Practices.

Additional Programs

Matching Gift Program - The Matching Gift Program of the Textron Charitable Trust encourages employees to give their personal financial support to a mix of cultural, educational, environmental and healthcare institutions. Contributions by eligible employees to qualifying organizations will be matched dollar-for-dollar from a minimum gift of $25 to an aggregate maximum of $7,500 annually. Gifts must be made directly from the employee's own funds to approved organizations.

Textron National Merit Scholarship Program - Textron provides Merit Scholarships, ranging from $500 to $2,000 to children of employees who apply and meet the requirements to participate. Scholarship winners are chosen on a competitive basis by the National Merit Scholarship Corporation without regard to family financial circumstances.

Updated January 27, 2012