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Pratt & Whitney Raytheon ‘s parent company announces more layoffs News



(WFSB) – Raytheon, the parent company of Pratt & Whitney, has announced that its plans for layoffs are deepening.

As early as July, the company announced that it was cutting more than 8,000 jobs.

On Wednesday, the company said their number had risen to 15,000.

Raytheon has not yet provided detailed information on where jobs will be cut or whether Connecticut employees will be affected, as both Pratt & Whitney and Collins Aerospace have locations in other parts of the country.

A statement from CEO Greg Hayes said: “I would tell you that the commercial airline has skipped this crisis and they are spending about $ 2 billion to cut costs and $ 4 billion to save money this year. These expenditures include the elimination of more than 1

5,000 positions in our aerospace and corporate organizations. These staff reductions are almost double the previous estimate of around 8,500 we gave you in July. And we are not done looking for additional ways to reduce structural costs in all our businesses. “

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