TUCSON, AZ (KOLD) – Approximately 225 salaried employees, about two percent of Raytheon Missile Systems' 12,000-person workforce in southern Arizona, arrived to a pink slip Monday. Southern Arizona's largest employer still far out-sizes second place U of A and is more than double the city's workforce.
Last week, company spokesman John Patterson said that the Department of Defense had canceled three important programs last year. While he said that the company managed to move those people to other programs, he also said that a reduction in force was possible.
Patterson explained this week's reduction in a written statement:
"To better align our workforce to meet current and future business requirements, and achieve the right mix of talent to remain competitive in the marketplace, Raytheon Missile Systems is reducing staffing levels."
Ranked 95 this year by fortune 500, Raytheon has a stock price up more than 37 percent from this time last year.
And while Raytheon is scaling back here, the company is adding people elsewhere. Just last month, 30 employees joined Raytheon's operations in Louisville, Kentucky.
But in this economy remaining competitive can also require leaving some behind, which in this case is about 225 people here at home.
Patterson said that those employees will still receive severance benefits and outplacement services to help their transition.
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