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United Technologies Eyes Possible Brain Drain after Firm Cuts Benefit Program.
Knight Ridder/Tribune Business News, August, 2003
The Hartford Courant, Conn. Knight Ridder/Tribune Business News
Aug. 27--United Technologies Corp. is preparing for the potential loss of hundreds -- perhaps even a thousand or more -- of its most experienced engineers and managers as it eliminates a key health care subsidy for early retirees after Dec. 31, 2006.
No one knows how many employees will leave before the benefit is cut, but UTC estimates that somewhat fewer than 10,000 are faced with a decision. It plays down the significance of the change in benefits.
"We have succession planning in place already, and will take the necessary steps to fill important jobs," spokesman Paul Jackson said. "We do not expect a mass exodus of older employees in 2006."
But sources say some...
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