L3Harris cuts 5% workforce in cost-saving measure [Reuters]
L3Harris Technologies, Inc. (LHX)
Last l3harris technologies, inc. earnings: 2/4 06:30 am
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Source: Reuters
April 26 (Reuters) - U.S. defense contractor L3Harris cut 5% of its workforce earlier this month in a bid to streamline its business and save costs, CEO Chris Kubasik said in a post-earnings conference call on Friday. The announcement a Reuters report from Tuesday which said the company would cut 5% of its workforce this year, citing an email sent to employees. Though U.S. defense contractors are seeing a notable increase in orders amid conflicts in the Middle East and between Russia and Ukraine, they continue to face headwinds from supply chain and labor disruption stemming from the pandemic, impairing margins. The Technology Roundup newsletter brings the latest news and trends straight to your inbox. Sign up Reporting by Utkarsh Shetti in Bengaluru; Editing by Shailesh Kuber Our Standards:
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LHX
News
- L3Harris Technologies, Inc. (NYSE: LHX) had its price target raised by analysts at Wells Fargo & Company from $238.00 to $245.00. They now have an "overweight" rating on the stock.MarketBeat
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LHX
Earnings
- 4/25/24 - Beat
LHX
Sec Filings
- 5/1/24 - Form S-8
- 4/26/24 - Form 10-Q
- 4/25/24 - Form 8-K
- LHX's page on the SEC website