Thread regarding Raytheon Co. layoffs

Layoffs by the end of March

Management was so proud of the 2.8 billion made in sales of last year and gave applause to GBS and REPS for the hard work and well done job . What happened now?

VOL or involuntary by end of March! Really??? How do you expect the moral will be till then?

Should we start editing our resumes and apply for jobs?

Bumped from @XgOFhrC-5ord.

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Post ID: @XlmNz2p

5 replies (most recent on top)

I was included in the March layoff. It was a bit of a surprise. While I'm not happy about it it, because of my position, I'm aware what drove it and the steps taken to avoid a RIF. Yes, Raytheon made $2.8B in 2018, but Wall Street analysts looked at the profit margins and said 'not enough - fix it'. The easiest and possibly only way to increase margins in this environment is to further reduce overhead. Hence the indirect GBS & Corporate employees were targeted and laid off. Yes, they hit the more 'senoir', highly paid employees and the resulting loss of knowledge will be a problem for a long time. It was the lesser of two evils. Seems to me that Wall Street runs Raytheon, not the Board of Directors or Management. Too bad they didn't have the balls to tell Wall Street to pound sand - they're doing the best that that can and will find other ways to improve margins.

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Post ID: @XlmNz2p-25aqc

My husband was just laid off after 26 years at Raytheon. Especially hard because they made 2.8 billion dollars, but the investors had set the goals unreasonably high. This is truly corporate greed.

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Post ID: @XlmNz2p-1bexq

I hear you! We got an email stating everyone had to be in the office on Monday at 8:30am. This is so they can escort out those who didn't make it. Moral has been so bad. Those who volunteered have the f---its. Heck, we all do. It's just such a kick in the teeth when we have an all-hands stating they will be hiring x-number this year. Oh and we made $$$ profit. Days after they said 10% of our businesses will be gone. This company is so demoralizing. Good money, but always worried about your job.

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Post ID: @XlmNz2p-Soyo

We were told 7% layoff from GBS and 10% layoff from corporate by the end of March either voluntary or involuntary.

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Post ID: @XlmNz2p-dcdr

I really doubt it

VOL or involuntary by end of March!

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Post ID: @XlmNz2p-avxh

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