Rockwell Collins outlined a cost-reduction plan Monday, which includes 300 layoffs, in a bid to "effectively manage the impact of the economic downturn," the company said. Cost-reduction measures include the reduction in discretionary spending, laying off about 300 employees, primarily in operations, and reducing the number of contract workers by about 100. “Like many other companies, we’re dealing with significant challenges in meeting our business objectives. These challenges include air travel declines resulting from the weaker global economy, delays and cancellations in several government programs, and the prolonged Boeing strike,” said Rockwell Collins Chairman, President and CEO Clay Jones. “We’ve had to make some very difficult decisions in order to align our infrastructure and spending to market realities. These carefully considered actions are critical to the long-term success of our company and balance the best interests of our customers, shareowners and employees.”