"In recent news, L3Harris Technologies, a prominent global technology company, has announced its plans for a significant restructuring initiative that will impact its work force. This move, set to take place in 2023, will involve a series of layoffs across various departments and locations."
Edward Standley. Published Oct 23, 2023.
It has already started across multiple locations. The company will also consolidate its real-estate footprint also by selling off redundant manufacturing sites and optimizing the value of the real-estate by selling it off. Thus "returning value" to its investors.
Take a look at the stock price. It went up because investors like it when a company lays off and sells off. It frees up cash.
If you are a job seeker, stay clear. If you are an employee, buckle up. If you are a senior employee, don't hold your breath waiting for a buy out. Pink slips are cheaper and you'll be getting one soon.
5 replies (most recent on top)
Here is the source. Anyone who know anything about L3Harris will see that the author is providing outdated data on the organization.
https://www.linkedin.com/pulse/closer-look-l3harris-technologies-restructuring-layoffs-standley?trk=article-ssr-frontend-pulse_more-articles_related-content-card
Odd. A month ago, we were told that any IDL charge required director approval.
Any chance you could post the link to that reference? Where did this info come from?
Yeah me too IDL for 8 hours on Friday. Seems like they're trying to under report direct labor. That bothers me a little bit.
A couple of dozen management people let go but no union members so far. But weird, in Clifton, they just told us to charge IDL for Fridays. We have regular work. Why would they tell us to charge IDL? Isn't that fraud? I'm not sure what to do. If I blow the whistle, they will definitely let me go on some bullsh*t charge. Been here too long to let that happen. Retiring in 8 months. I hope I make it.