Boston Business Journal

Raytheon, One of Massachusetts' Largest Employers, Cuts 15,000 Jobs

The Waltham-based aerospace and defense company cited the airline downturn as one reason for the layoffs

Boston Business Journal

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.

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.

Read more about this story in the Boston Business Journal.

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