Lexington, Mass.-based Raytheon Co., the third-largest defense contractor, plans to fire 400 engineers at its missiles business in Tucson, Arizona, because of cancellations and delays in U.S. Defense Department programs.
The company sent layoff notices to 200 workers and will notify another 200 employees next month, said Colleen Niccum, a Raytheon spokeswoman. The cuts represent 4 percent of Raytheon’s 10,400 employees in Tucson. Raytheon has 87,200 workers worldwide.
Beyond Cash Donations: How New Forms of Giving Are Transforming Not-for-Profit Accounting
Evolving Funding Landscape for Not-for-Profits Not-for-profit organizations are being asked to do more with less,…
Learn More
The job cuts come a month after the U.S. Navy canceled the Navy Area Wide missile-defense program that was a year behind schedule and 50 percent over budget. Raytheon has said it would have gotten about $1 billion in orders through 2006 from the program.
Bloomberg News
