TUCSON, Ariz. (KOLD News 13) - Tucson’s largest private employer says it is cutting 15,000 jobs.
According to WAFF, Raytheon President & CEO Greg Hayes announced the reductions in a reporting call to shareholders Friday, Sept. 21.
It’s unclear what effect the announcement will have on jobs in southern Arizona, but Hayes did say the cuts will be connected to the company’s commercial aerospace businesses, Pratt & Whitney and Collins Aerospace.
The company says the layoffs are because there’s been less commercial air travel since the pandemic.
Hayes says he doesn’t expect a full return to commercial flight until around 2023.
Raytheon employs 13,000 people in Tucson.
Hayes indicated that Raytheon’s defense contracts remain highly lucrative. He told shareholders the company currently has a “record backlog of $73 billion on the defense side of our business.”
Read the entire WAFF report HERE.