U.S. defense contractor L3Harris Technologies Inc will cut 5% of its workforce this year as part of a cost saving measure, CEO Chris Kubasik said in an email to employees seen by Reuters on Tuesday. L3Harris is set to report its first-quarter results on Thursday. The cuts are not evenly distributed but aim to eliminate redundancies across all functions at the company, a person familiar with the situation said, adding the reductions did not necessarily focus on the Aerojet Rocketdyne divison, which L3Harris acquired for $4.7 billion in December 2022.
By Utkarsh Shetti, Nathan Gomes and Mike Stone (Reuters) - U.S. defense contractor L3Harris Technologies Inc will cut 5% of its workforce this year as .
Defense company L3Harris laid off 5% of its employees recently after a years-long acquisition spree that has resulted in "double-digit growth" according to its CEO.
By Chris Kubasik L3Harris Chair and CEO The Department of Defense began the year with the release of the inaugural National Defense Industrial Strategy ,.
(The Center Square) – As the Pentagon looks to shift the risk of cost overruns to contractors, some are sitting on the sidelines instead of bidding on projects from their