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United Technologies Corp. said its Otis Elevator Co. will close 13 of its 19 engineering centers and cut 2,000 jobs–mostly abroad–partly in response to weaker sales in Asia.
Otis Elevator’s operating profit fell 11 percent last year on slightly lower sales of $5.55 billion, while profits rose at its other units. Otis already has cut 900 jobs in a restructuring plan that began in the fourth quarter.
United Technologies Chairman George David has been pushing managers throughout the company to pare costs and increase higher-profit service revenue in a bid to raise profit margins closer to those of rival General Electric Co.
