Thread regarding L3Harris Technologies layoffs

Layoffs, Leveraging and Lawsuits... Oh My!

Well... this certainly is interesting.

Found this little tidbit online about ITAR export lawsuits.
"Past violations of the Arms Export Control Act by Harris Corp. has resulted in a $13 million civil penalty for the newly formed aerospace and defense contractor L3Harris Technologies, the U.S. State Department said. According to the State Department, the 131 alleged violations of unauthorized exports of controlled U.S. defense items occurred with Harris Corp. between 2013 and early 2019."

Then, as of February 4th, this announcement: "L3Harris Technologies could divest up to 10 percent of the company, according to CEO Bill Brown, as its recent decision to sell its airport security business for $1 billion is seen as the first of more transactions expected to refine the firm’s portfolio."

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| 1753 views | | 3 replies (last )
Post ID: @OP+19gf2xDa

3 replies (most recent on top)

The point I was trying to make was that $40 million was not viewed as a major loss 30 years ago, so a $13 million fine today is probably pocket change... probably not even one tenth of all the bonuses paid out to top corporate officers last year.

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Post ID: @6rmo+19gf2xDa

You're quoting something from 30 years ago and then saying that the original post is "old news"?
Uh huh.

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Post ID: @5znc+19gf2xDa

About 30 years ago GE Aerospace was forced to pay a $40 million fine and they were happy. That was a cheap price to pay to clear up a mess. So I doubt $13 million will matter much to L3H.

And isn't that old news about divestitures? Seems to me we've been waiting for that to become a reality for over a year.

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Post ID: @1byt+19gf2xDa

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