L3Harris Technologies CEO Chris Kubasik tells employees the company will cut 5% of its workforce this year as part of a cost saving measure, Reuters’ Utkarsh Shetti, Nathan Gomes and Mike Stone report, citing an email seen by the publication. The cuts represent about 2,500 of the roughly 50,000 employees the company had as of the end of last year, according to its annual filing. L3Harris is set to report its first-quarter results on Thursday, the authors note.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on LHX:
- LHX Earnings Report this Week: Is It a Buy, Ahead of Earnings?
- L3Harris Technologies upgraded to Overweight from Neutral at Alembic Global
- L3Harris Technologies receives $256M ENVG-B production order
- Kratos Defense completes development of Zeus Solid Rocket Motor family
- L3Harris Technologies Announces New VP and Accounting Chief
