Raytheon Technologies Corp. confirmed to the Boston Business Journal a report saying the company is cutting 15,000 jobs.
The Waltham-based aerospace and defense company, one of the largest employers in Massachusetts, is cutting 15,000 people as part of an effort to reduce $2 billion in costs this year and save $4 billion in cash as the pandemic crushes airline travel, according to Bloomberg.
A Raytheon spokesperson confirmed the report, but didn't say how many Massachusetts employees were affected. He declined to answer further questions.
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News of the cuts comes approximately two weeks after Raytheon said it was hiring to fill 200 aerospace-related software and technology jobs in Colorado. Company executives cited the momentum of the aerospace industry, as private companies as well as the U.S. military are developing new space technologies.