I have received a job offer from Collins Aerospace (now Under big Raytheon Tech umbrella). I am still presently employed by a large defense company that is not suffering from layoffs or pay cuts. However this job offer provides me with a better commute, better salary, and more experience professionally. I want to take the job but I’m so concerned with everything on the news about Raytheon’s stock dropping, pay cuts, and furloughs whether I am putting myself at risk for being laid off being that the job I’m being offered is for Collins Information Management Systems division which is mainly commercial from what I’ve read. What do current employees think will happen in the future post pandemic? Will Collins/Raytheon make it through this storm? Is is safe to accept the offer or am I putting myself at a huge risk which I’m not presently in with my current role.
5 replies (most recent on top)
Raytheon is losing money on the commercial side. Stay where you're at. You could be cut in a year or less.
I wouldn’t recommend a move in this uncertain environment. The expectation is 20% cuts across the board.
I work at Collins, I expect there will be some significant layoffs. People recently hired may be exempt for awhile (6 months to a year), but I think the cuts will continue on as the full extent of the impact on the aerospace business is not realized yet. Also some layoffs were already pre-baked into the merger business case so I think it will not be a pleasant place to work for awhile. I would stay put.
Collins in CR just announced voluntary separation packages and indicated there is more to come as of 1:05 pm today. Stay put.
I can't speak on Collins, but at least with Pratt & Whitney, it was recently announced that they're only filling "Missiom Critical" roles and only considering internal employees for those positions. That said, as far as the pay cuts, they no longer apply to employees that can direct charge to the government. Indiect employees must still take the pay cut. They're also saying there's a good chance that raises will now be cancelled. indefinitely.
No other cuts have been announced at this time, but if I were you, I would stay where you're at if you're working on a Military program right now. The Commercial Aviation industry in particular has been completely obliterated and suspect the worst of that fall out is still yet to come. I'm actually surprised they're still hiring for roles on the Commercial side.