The recent sell a proposition to sell the majority of the complex and eL Segundo and a large portion of property located behind Pratt and Whitney in Hartford is a pretty solid indicator, in my opinion , that once those properties are sold off Raytheon is going to slowly pull out of those two locations. I’m sure they have contacted city Council and have weighed their decision as to an immediate cell and pull out as to a gradual would have the least impact of the communities involved; it makes sense the property tax as well as the cost of operating in those two locations is extremely high. I’m sure this comes as no surprise is Raytheon has indicated it wanted to reduce its footprint and sell off properties and reduce cost of operating just keep an eye on those two locations especially if you’re employed there
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I agree that rumors of selling the El Segundo campus has been around for years. Moving to Tx or Ms. But just rumors and nothing concrete. El Segundo is selling off unused land (empty parking lots) but I would think they sell off the Fullerton and Goleta sites first before El Segundo.
For the uninitiated, this information of campus selloff has been swirling around the El-Segundo South Campus since around 2007.
Prior to 2007 they were already selling off other campuses (for example there was one in Long Beach I think sold off in 2005).
Intentional or not, Raytheon has been slowly selling off their building assets (historically Hughes Aircraft) for years in California so this really shouldn't be surprising.
Its too costly to do business in California, which is why Space and Airborne Systems moved thier corprorate Headquarters to Texas sometime around 2012.
Like it or not many companies are leaving California for other states, just like people in general are leaving California in large droves.
The Democrat-left leaning policies are bankrupting and k–ling the state. I'd get out now if I were you while there are still opennings in other parts of the states.
I doubt most people will agree (and have an emotional outburst) about what I stated here, but do your homework and look it up.
El Segundo is not being sold. Dont know where the op got this information. They are selling off parts of the property (parking lots) for development but no mention of the entire site being sold.
Raytheon (especially legacy rtn) cannot be in trouble. They have lots of contracts worth billions and just picked up another one. Raytheon Technologies is surviving because of legacy rtn.
it does look as though the writings on the wall with office footprint reduction in process as of this posting. wonder if there will be additional personel reductions to further help cost savings bottom line.
Raytheon has no cash. Close to 100 billion in the hole for the merger and REAL stock value at NEGATIVE $18 a share. Their "liquidity" is your pension...
That's legacy UTC/PW. Heard about that already. Where is the story regarding El Segundo? They sold off parking lots for development but no news of the entire campus being sold. Perhaps you are confused with the parking lot sales.
https://www.journalinquirer.com/towns/east_hartford/raytheon-markets-property-near-pratt-hq/article_05a29442-661a-11eb-9091-b76d0a1d2854.html
2nd article- the Boston globe.com
How do you know this? Where is the article/story regarding the sale?
They are selling the entire El Segundo campus? I know they sold the parking lots for a strip mall development and the Chargers new HQ. Employees will be forced to relocate or what will happen to the work?