Raytheon Co.
is splitting its defense operations into seven businesses as part
of a plan to reorganize the fourth-largest U.S. defense
contractor.
The move will “eliminate layers and cost and will enable us
to move with greater speed and agility,” Chief Executive Officer
Daniel Burnham said in a PR Newswire statement.
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Raytheon, which makes the Tomahawk missile being used in
Afghanistan, will begin reporting financial results in the new
structure next year.
Lexington, Mass.-based Raytheon will cut jobs after
the units are combined, said David Polk, a company spokesman. He
said the company wouldn’t know the exact job cut figures until the
end of September.
Bloomberg News
