Message from Greg, for all RTX employees. 10% Paycuts, starting in June for Pratt and Whitney and Collins people. It's all temporary boy and girls. Stay safe out there.
9 replies (most recent on top)
Military/defense employees relied heavily on the Commercial side back when we had to deal with Sequestration. It goes both ways, over the long haul. Let's not forget that. Regarding layoffs, really not good, Greg, that your employees hear it on the news.
In regards to the IT what about all the outsourcing do you think that they’re going to completely do away with on-site IT I mean the software aspect of it not the mechanical upkeep of the systems
@5zlh+14t0r0e1 completely agree. I've been told my timelines and deadlines will not change because of this but we are not allowed to work for these additional days and lose pay on top of deferring merit which will most likely be cancelled.
@1rrt+14t0r0e1 you are joking right? Our IT services are absolutely horrible and take days to weeks to get anything done. Their repeated updates right now are making things even more difficult especially from home. I've yet to have a good experience with our IT department
I wasn't clear in my reply. What I meant to say is iy's demoralizing that both the Military side AND Commmercial are being forced to suffer with pay cuts and furloughs even though it is only the COMMERCIAL side if the business that is being decimated (the Military side of the business is still humming along)
Raytheon has tons of military folk that are unaffected by the layoffs. And the layoffs in Collins and Pratt are driven by decreased demand in the airline industry. Not sure where you get that only military folk are being affected. It's not even related, the decision was made for Pratt and Collins, not just military folks
I knew when Greg Hayes said on CNBC (after the merger with Raytheon closed) he wasn't going to take the bailout money, all hell was about to break loose. He took on an obscene amount of debt to acquire Raytheon and Rockwell Collins and now the chickens are coming home to roost with this black swan event.
The most demoralizing part about it is that us folks on the military side are being forced to suffer with pay cuts and furloughs even though it is the commercial side that is being decimated.
I'm done. I've been actively searching for a new job and will continue to do so (although I highly doubt I will find one now).
You’d think they’d learn from previous errors during ‘08 downturn—you cut critical areas such as IT/security, and the problems that arise make those cost savings look like wasted paper. Once they’re gone, you can kiss your IT goodbye because you should already know how hard they are to attract in the first place.
It is only temporary while the economy continues to be predictably bad. If it gets worse than predicted, there is nothing stopping them from doing more.