Reuters: Providence-based Textron may spin off divisionsJanuary 12th, 2012 at 10:17 am by Ted Nesi under Nesi's Notes
Only two Fortune 500 companies are headquartered in Rhode Island these days – CVS Caremark in Woonsocket (#21) and Textron in Providence (#233). I’ve written already that CVS is kicking off 2012 on a high note. Now comes word in a Reuters report that Textron is “conducting a strategic review that could include options such as spinning off parts of the aerospace and defense conglomerate.”
Despite its size, Textron’s actual presence in Rhode Island is quite small. While the company had about 32,000 employees worldwide as of last year, it isn’t even in the top 50 among Rhode Island employers, according to the EDC.
Update: ”Textron currently employees just over 300 people here in Rhode Island,” spokesman David Sylvestre told WPRI.com on Thursday.
Update #2: And speaking of CVS, the company settled a longstanding FTC investigation today for $5 million.