Over the course of this merger I have been keeping tabs on many small details that I believe point toward a major restructure in early 2021. This will be a long winded post but I would like input from anyone on their prerogative. Raytheon was supposed to be immune to any COVID hardships due to our defense background. That did not stop them from shutting down the plant in New Mexico. The work that was being completed there was sent to multiple other manufacturing facilities across the US. Now any plant that receives work from this closed plant should in theory be safe because they would not send work to a plant that was going to get closed at a later date. Another issue is I found that the plant I work for (not saying for anonymity purposes) has had no name update. What I mean is we still have same old badges and no update to exterior or interior signage has been done. I know for a fact most other manufacturing facilities as well as engineering facilities have been updated already. Another thing is recently, there have been a lot of promotions from upper level folks that are being promoted out of the current building I work in. This is supposed to be the busiest time of year for us but we have really just been treading water most of the year. I feel like this facility will likely be moved following a mass restructure to pay and workforce. They will want to purge out all the old pension guys and I believe there will be a pay Scale restructure. Benefit cuts are obviously expected as is the end of profit sharing. I would like any input from anyone on what they might think also.
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Change industries.
Right now, I'm in the final interview stage for a role with a major company in a different industry and it's between me and 1 other person . This is about as close as I'm come to landing any job in the past year of my search.
If GE, Honeywell, Woodward, Boeing, United, Delta, Airbus, Rolls-Royce, American, etc. are all hurting, what good is polishing up my resume going to do? If this is an industry wide cutback, then it looks like maybe its time to find a new career.
Geoff Hunt also confirmed this week in the Engineering All Hands that involuntary separations are a certainty. No specifics on timelines or how the layoffs will be structured.
Hayes’ response earlier was in a Q&A where he said involuntary separations are “likely.” Prior to that, it was “may have to have involuntary separations if enough people don’t take the VSP.” They’ve been inching towards this in their public statements for a while now.
Geoff Hunt also confirmed this week in the Engineering All Hands that involuntary separations are a certainty. No specifics on timelines or how the layoffs will be structured.
Hayes’ response earlier was in a Q&A where he said involuntary separations are “likely.” Prior to that, it was “may have to have involuntary separations if enough people don’t take the VSP.” They’ve been inching towards this in their public statements for a while now.
Matt Bromberg (P&W's President of Military Engines) confirmed yesterday in the all-hands meeting that "involuntary separations" (fancy corporate way of saying "layoffs") will be happening in the next 30 to 60 days.
I’m sticking with what someone said in another thread. The cuts will be obviously more heavy on the PW and Collins side but make no mistake. All levels of employees will be affected from floor level guys that are part of the manufacturing all the way up the chain. Legacy Raytheon is not excluded from this. One of their major priorities will be to get the old guys that are in the fence about retiring out the door. I can speak for what I see personally and the personnel on the floor (people that make the parts) they are not skilled. Parts being sc-apped out at a ridiculous rate, new jobs can’t get sorted out and make way into production. The thing that is going to cause the hammer to come down on legacy Raytheon is inability to meet customer demands. Be it on time delivery or quality. All plants have already been assessed on what they do and have done annually, profits, delivery rate, sc-ap rate etc. for the past 5-10 years probably and cuts will be made based in that. I’d expect to start hearing rumblings in a month or so. With more clarity on these rumors as the year rolls on. Once December hits, I imagine everything will be out in the open or close to it.
That’s cute that you think Engineering is untouchable. It cuts have to be made, they will he made. It also depends on the Indirect job function whether they will get the hose
With everything going on I imagine it’s only a matter of time before Raytheon legacy gets hit. Especially indirect, non-engineering roles. Has anyone heard anything yet?
I can also say that in my area of commercial at PW, we've lost over 10% of people from VSP and just moving people around. Indirect, low hanging fruit will get slammed with layoffs in the Fall. If that describes you and you have a larger salary, get your resume ready.
I left after 20 years once I heard about the "Friendly Takeover". It took Raytheon years to purge the other monikers after they took over Hughes Aircraft, TI, etc so I wouldn't be too focused on the inconsequential details.
They've been reducing benefits for years, so that is no surprise that further reductions are being done.
Focus on the products they make for the future business, and I suspect you'll be on the right track as to how they will restructure. Here's a hint... about May/June 2019 there was a public release that Raytheon was one of a number of contractors working with DARPA for hypersonic (ala RAM) jet development, then soon after there was a press release for the pending "merger". If you understand the business units, and what they make, you'll have a general idea on where the re-structuring is headed.
As far as to pay, and benefits? Well, lets just say I'm glad I left. With the current way they do evaluations, I believe everyone will be hurt...at least in the short term (2 to 5 years). Later, they'll realize they're understaffed, and can't retain talent. Only then their attitude MIGHT swing the other way (a classic story for all big businesses). Basically, they're a new company prone to repeat the same mistakes Raytheon made.
Also, bear in mind that Raytech's new president was the CEO of UTC. Also, there are more UTC board members than Raytheon. You do the math here.
After we at B/E Aerospace were told we were being bought out by Rockwell Collins, we thought it was going to be a great opportunity for us to expand our footprint in the interiors arena. Then the decision was almost immediate when the announcement was made we would merge with Raytheon. To date, other than a change of faces and some different buildings, NOTHING has changed for the better. In fact, management just doesn't seem to give care at all if we survive. Frankly, I don't see how interiors fits into a company that primarily fits into the military arena and it is beginning to be extremely evident. We have had high level management walk through lately which can't be good. We have had several layoffs, furloughs in the past weeks, which with the VSP going into effect Wednesday, even more senior experienced employees will be saying Goodbye. It does not look good and wish everyone the best!
If the company cancels offers on new hires that were supposed to start in June but were pushed out to Jan, everything is on the table.
I work in commercial engines engineering at PW, and we're having a good chunk of people leaving with the VSP come August. No one knows specifics of how the restructuring and rebuilding will happen.
Thank you.
To be more specific, the statement was shared as a news headline on the P&W home portal (I never received an email about it). Obviously, since it was a couple weeks ago, it has been quietly replaced by newer headlines.
The vast majority of legacy UTC's business (easily 60% to 70%, maybe more) is commercial aerospace, and with the commercial aerospace industry having seen a 70% downturn in passenger traffic with no signs of significant recovery soon, that means a lot of people won't be needed or will be costing legacy UTC too much money to keep on board. With every other major aerospace having done significant layoffs (you name it: GE, Honeywell, Woodward, Boeing, United, Delta, Airbus, Rolls-Royce, American, etc.), it would be ridiculous to think the now 2nd largest commercial aerospace supplier in the world won't also see significant layoffs.
Now, Hayes and Co. may THINK they're doing the right thing by implementing every other type of cost cutting measure before having to laying off a ton of folks. And you will never get management to publicly say they're laying off a ton of folks in all-hands meetings because it's a step of last resort and they don't want otherwise good employees performing poorly or jumping ship knowing they'll be out of a job soon. But really they're just delaying the inevitable pain (as they're now realizing) and k–ling employee morale any way with the uncertainty. Furthermore, the reason they're rushing to get folks to take the VSP and off the company's payrolls by 7/31 is so they can get the WARN notices and layoffs done befoee Q4 and the end of the fiscal year so that their balance sheet doesn't looks as disastrous to shareholder.
Now, some of you may not like the reality of the situation, but last I checked this site is called "The Layoff." If you refuse to read the tea leaves and instead prefer to live in denial, I suggest you go elsewhere.
They just announced my plant is getting new signs, hopefully that is a good sign : ). I worked at GE and Honeywell when they did roof top reductions, seems sites with unions would top the list for sites to target.
He doesn’t mean the email was LITERALLY in stealth mode. He means that Hayes sent an email out but apparently not everyone got it or not everyone read it. The more likely is that not everyone read it. As I have to go to a separate area for emails that don’t come from my bosses. The way our email is setup is there is a primary and a secondary email area and most just check the primary and forget there’s a secondary section
@1fvv+15UxxTeZ What the f— is stealth mode? You can’t even substantiate your claim.
Some things at PW and Collins will be cut, namely indirect folk and the production guys. More furloughs may come first because we still have to be competitive in this market
The restructuring is not complete and will take awhile to finalize. With that said, there will be quiet layoffs. The Raytheon BU mergers will have duplicate jobs so there will be layoffs there. Former Raytheon Corporate is furlough with paycuts till the end of the year. Alot of those will be laid off since there is really no place to put them. So Raytheon part is not completely safe. If they offer voluntary retirement with good severance, take it.
I don't think any of the divisions will come of this completely unscathed. COVID-19 and the subsequent recession has obviously given Hayes and Co. an excuse to consolidate operations and eliminate redundancies, including within legacy Raytheon. That said, from a job security perspective, I would feel much safer as a legacy Raytheon employee than a legacy UTC employee right now. The pain felt in P&W and Collins is going to cut much deeper.
I would agree with you on the legacy Raytheon side “should” be safe. If they hadn’t closed that legacy Raytheon facility in New Mexico. Once that happened it was quite clear that they will be doing things across all branches to “share the pain” so to speak.
Greg Hayes issued out a statement (apparently in stealth mode) back on 6/29 that confirms mass layoffs are coming this year. They just haven't disclosed the exact numbers. The current VSP that's been offered to certain employees until 7/31 was merely the first step.
Foe you legacy Raytheon folks, most of them will likely be in Pratt & Whitney and Collins Aeropsace because he emphasized it was mostly the Commercial Aeropsace that is struggling.
That said, if you work for Pratt & Whitney and Collins Aerospace and aren't a direct charge employee, I would strongly suggest getting your resumes ready, start actively searching for new jobs and avoid any big purchases in the next few months.