Thread regarding Raytheon Co. layoffs

Wall Street runs Raytheon, not the Board of Directors or Management

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.

Excellent point by @XlmNz2p-25aqc.

by
| 599 views | |
Post ID: @ZsBAJET

2 replies (most recent on top)

They did the same at RPS side of Raytheon they laid off the senior people and than have asked them to return for a contract job at a lesser rate. They are not only losing the knowledge but they a burning bridges also.

by
|
Post ID: @ZsBAJET-rygz

Amen

by
|
Post ID: @ZsBAJET-dcy

Post a reply

: