SourceTech411 providing researched Tech info, News and Reviews to help you find the stuff that makes you happy.
We are reader-supported. Learn more .
When you buy through links on our site, we may earn an affiliate commission (at no expense to you).
Get started, shop Amazon

Raytheon Reorganization Cuts 200 Jobs For $85 Million Savings

Raytheon Defense Systems
Raytheon Defense Systems

Raytheon recently announced their latest cost savings measures in which it merges two divisions –   communications systems and advanced programs – with Space and Airborne Systems.

Raytheon expects there will be nearly 200 jobs lost in the reorganization, and a bottom line savings of over $85 Million annually.

They have announced plans to shut down the Network Centric Systems Unit in McKinney, Texas.

The reorganization is one part of their general plan going forward to consolidate their business and streamline the company structure by reducing the number of business units from six to four. The initial restructuring will happen on April 1, 2013.

The company has almost 10,000 US workers and approximately 68,000 total world-wide employees. How the changes will affect their other sites is not yet clear.

William Swanson, Raytheon’s chairman and CEO, said in a statement :

Our new structure will help us enhance productivity, agility and affordability in a challenging defense and aerospace market environment. We will remain focused on success for our global customers while returning value to our shareholders.

Raytheon is not the only provider to implement consolidations for cost savings. Military defense competitor Northrop Grumman Corp. (NGC) also announced closures. Northrop released this month their plan to close its Carson, CA site.

Related Article – Northrop Grumman Closures In Carson, Woodland Hills and Salt Lake City

Related Article – Boeing Voluntary Reduction Of 250 Jobs In Southern California

The cuts at the two largest US defense contractors comes as a result of decreased US Military spending by the Pentagon in recent years. Budget analysis estimates the overall budget could decrease by nearly $500 Billion over the next ten years.

(Photo Credit – Raytheon)

If you found this article interesting and informative, please be sure to sign up for our weekly e-newsletter as well as daily email / RSS Feeds at SourceTech411  .

Your generous support by using our links for purchases is much appreciated. You may be interested in these Amazon products, or to just start shopping on Amazon - Thank You! ***
Join Our Mailing List
Get the daily tech deal straight to your inbox. It's a simple email focusing on just one product – an essential piece of personal tech or electronics.

  1. […] Related Article – Raytheon Reorganization Cuts 200 Jobs For $85 Million Savings […]

  2. […] Related Article – Raytheon Reorganization Cuts 200 Jobs For $85 Million Savings […]

Comments are closed.