Good luck! Especially to the Aerojet folks
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RE the constant reorgs and changes of direction/priority: if what L3Harris was doing was working, they wouldn't change it. This is just more proof that the executive leadership team is consistently failing at everything except hiding their failure by temporarily juicing the stock price and quarterly numbers. I guess that pays better than competence, but I wouldn't know.
@e4 Yup. Ed Zoiss has already found safe haven in another role.
Bye Bye SAS!
Bye Bye Clifton!
They bought AR for $4.7 BILLION in 2022 right?
So, if my math is correct, 60% of $4.7 Billion is $2.82 Billion right?
Now they're Selling off 60% of the rocket engine business for $845 million?
I'd say they lost money on that deal.
Also, looks like the trouble-plagued Space and Airborne Systems (SAS) segment is being absorbed into CSD and getting ready to disappear altogether.
Savvy folks in Clifton are heading for the doors.....again.
@c7 there was an announcement and a mass communication that went out for him and his departure
Something hidden in the reorganization is what happened to Andrew Puryear? Looks like he left end of 2025 with no announcement.
The divested employees may be better off in private equity ownership. Less quarterly thinking.
This is the "NEW" form/method to covertly get rid of employees instead of L3 Harris doing so directly themselves. This looks better to the shareholders and for new hire su-kers... Opps I meant new hire employees who maybe joining this company in the future. I do not understand the main share holders and the L3 Harris Board of Directors on the direction this company is going for in the near and distant future?
I understood clearly that L3 Harris only wanted the defense side of AJRD but why on GOD's green earth would l3 Harris kept a losing non profitable program such as the RS=25 program where no one else is even thinking of purchasing that out dated overly priced engine? RL-10 just received the biggest engine contact in history that is highly profitable for years to come plus a new upper stage engine that is also pretty much locked contract wise.
Why couldn't AJRD have been sold to General Electric a winning propulsion company that knows what to do???
@aa 845 million L3Harris sells 60% stake in space propulsion business for $845 million.
60% of NASA-related AR stuff got sold? Anyone figure if LHX made money on the deal?
Reorg increases chances of RIF. Plan on that for Q1/Q2.
Worst. Reorg. Announcement. Ever.