Raytheon Cutting 15,000 Jobs at Pratt & Whitney, Collins Aerospace and Corporate Offices in Response to Slump in Aviation

    Sept. 17, 2020

    By Stephen Singer

    Source The Hartford Courant (TNS)

    The chief executive officer of Raytheon Technologies Corp. said Wednesday the aerospace and defense giant will cut 15,000 commercial aerospace jobs this year at Pratt & Whitney, Collins Aerospace and in corporate offices in response to the steep drop in aviation caused by COVID-19.

    CEO Greg Hayes, speaking at an analysts' conference, said the Waltham, Mass.-based Raytheon is nearly doubling the job cuts from 8,500 announced in July “and we’re not done yet looking for further ways to reduce structural costs in all of our businesses.”

    Raytheon has been cutting costs using pay cuts, furloughs and layoffs since the sweep of the virus forced airlines to cancel flights and ground planes.

    Hayes said the defense side of the business is strong and Raytheon is adding jobs.

    Stephen Singer can be reached at [email protected].

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