---
schema_version: "secwatch.filing_event.v1"
accession: "0000217346-23-000041"
form_type: "8-K"
ticker: "TXT"
cik: "0000217346"
company_name: "TEXTRON INC"
filed_at: "2023-11-28T23:59:59+00:00"
generated_at: "2026-06-07T21:14:42.928771+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Textron approves restructuring plan cutting 725 jobs; expects $115M-$135M Q4 charges

## Summary
- Reduction of ~725 positions (2% of global workforce) at Industrial (Textron Specialized Vehicles, Kautex), Bell, and Textron Systems segments.
- Q4 2023 pre-tax charges of $115M-$135M: severance $35M-$45M, asset impairment $80M-$90M.
- Annualized gross cost savings ~$75M; cash outflows primarily in 2024, estimated $35M-$45M.
- Driven by lower demand for powersports products and fuel systems from European auto manufacturers.
- Plan substantially complete by H1 2024; no impact on 2023 financial outlook.

## SEC filing metadata
- accession: 0000217346-23-000041
- form_type: 8-K
- ticker: TXT
- cik: 0000217346
- company_name: TEXTRON INC
- filed_at: 2023-11-28T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.05, 2.06, 7.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/217346/000021734623000041/0000217346-23-000041-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/217346/000021734623000041/txt-20231128.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000217346-23-000041
- JSON: https://secwatch.observer/filing/0000217346-23-000041.json
- Plain text: https://secwatch.observer/filing/0000217346-23-000041.txt

## Key facts
- Restructurings & Charges
  TEXTRON INC announced a restructuring with charges of $115 million to $135 million affecting Industrial, Bell and Textron Systems segments (approximately 725 positions).
  - Type: restructuring
  - Charge: $115 million to $135 million
  - Affected area: Industrial, Bell and Textron Systems segments
  - Headcount: approximately 725 positions
  source text: of lower demand, which we anticipate will continue. In the fourth quarter of 2023, we expect to incur pre-tax special charges related to this restructuring plan in the range of $115 million to $135 million. We estimate severance and related costs to be in the range of $35 million to $45 million, and asset impairment charges to be in the range of $80 million to $90
  evidence_url: https://www.sec.gov/Archives/edgar/data/217346/000021734623000041/0000217346-23-000041-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.