As the third quarter closes, all eyes are on Space And Airborne Systems as that division continues to experience losses. The next reduction in workforce will be in SAS and Clifton will be hit the hardest.
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L3Harris will release its second quarter 2025 results on July 24, 2025, before the market opens. They will also hold a conference call at 10:30 a.m. ET on the same day to discuss the results.
Buckle up boys and girls.
@wt The elephant in the room at Clifton is the rising cost and dwindling skill set of the local labor pool. Seasoned and talented people have been driven away. The only veterans left are people no one else wants.
Let see what Q2 financials look like in next earnings call for SAS.
I see a lot about SAS Clifton, but any news about SAS Alpharetta, the Military Displays segment?
Even if it's not true, AI is saying it, and many people are reading it including corporate leadership and the fund managers on the board of directors.
$40 million? Probably a lot more on that stretch of route 3.
1 million square feet of mostly empty space costing $1 million a MONTH to keep open.
It's only a matter of time before the Kube thinks it's a good idea. Especially since most, if not all of the work can be done in Florida.
Politically, it would be better for the company to lay people off in states that did not vote for the current administration.
Florida did. New Jersey did not.
Yeah I just Googled "L3Harris closing Clifton" and that's what I saw too.
They're just not saying when.
I do remember a year ago a tour through the facility by people who said the property is worth over $40 million.
This is what AI is saying about Clifton:
AI Overview
Yes, L3Harris is closing its Clifton, NJ facility as part of a larger workforce streamlining effort. This closure is related to a company-wide initiative to cut costs and improve efficiency, aiming to save $1 billion over three years....
Key points:
Workforce reduction: L3Harris is reducing its workforce by 5%.
Cost-cutting: The Clifton closure is part of a broader cost-saving initiative.
Streamlining: The company is streamlining operations to deliver on its cost-saving commitment.
Specifics of Clifton: The search results do not detail the number of employees affected specifically in Clifton.
Wonder where AI gets it's info from.
There must be a lot of people saying this for AI to mention it.
SAS in Clifton is f-kt.
As long as there is no organic revenue growth and no prime contracts are won, the RIF will continue to keep stockholders happy.
Most of the SAS business is subs, which will generate revenue in the short term, but will fade out in the long run.
The Board needs to challenge the CEO, CFO, and E-suit on how to win and bid for new prime contracts. I say get new leadership that can talk less and win better long-term contracts.
It seems a cultural thing, RIF at L3Harris. The noise about it all over the net is adding pressure on the CEO, which is why Reddit was closed.
I say change always comes from the top to bottom. When you hold your CEO and E-Suit accountable, the company will perform as a whole. Just keep doing RIF quarterly to make your financials look good is not a solution. Think, Think, CEO, and step up your game, or step down.
@b7 Q1 2025 revenue for Space and Airborne Systems decreased by 8%.Technical difficulties are impacting revenue generation. The F-35 work has slowed and has resulted in a reduced volume of work for L3Harris. SAS operating margin also decreased by 140 basis points due to challenges with classified programs. LHX NeXt is focusing on cost reductions specifically at the Clifton site. Some older legacy programs are winding down and not replaced with new contracts.
Planning, engineering, depot ops and middle management are still over-staffed for the work forecast.
Of course, you can always ask your manager if any of this is true. But I doubt they will answer you honestly.
@OP where are you getting this from? Or are you just chatting out ya a-s