(WFSB) -- Raytheon, the parent company of Pratt & Whitney, announced that its plans for layoffs are deepening.

The company announced back in July that it was cutting more than 8,000 jobs.

On Wednesday, the company said that number had grown to 15,000.

The Associated Press reported that during a Morgan Stanley analysts web conference, Raytheon executive officer Greg Hayes said the cuts amount to administrative cost reductions of about 20 percent at Pratt & Whitney, based in East Hartford, and about 12 percent at Collins Aerospace, based in Charlotte, NC.

RELATED: Raytheon doubles job cuts to 15,000, citing airline downturn

A statement from Hayes said “I would tell you the commercial aero team has jumped on this crisis, and they're driving about $2 billion in cost reduction and $4 billion in cash conservation actions this year. These cost actions include the elimination of more than 15,000 positions across our commercial aerospace and corporate organizations. Those headcount reductions are nearly double the previous estimate of around 8,500 that we gave you back in July. And we're not done yet looking for further ways to reduce structural costs in all of our businesses.”

The airports are empty and the impact is being felt tremendously on aircraft companies. 

"Air travel is likely to lag until such time people have trust, faith, and confidence they can safely travel," said Brian Marks, an economics professor at the University of New Haven. 

Marks predicted that the impact on aviation will only get worse. 

"Raytheon's announcement suggesting they may not see a return of the commercial airline aspect of their business until 2023 is not a surprise," he said. 

Channel 3 asked for a breakdown of how many jobs in each sector will be cut, but Raytheon hasn't sharing it.

Both Pratt & Whitney and Collins Aerospace have locations around the country, so the full impact on Connecticut is still a mystery. 

The news comes just days after Raytheon was awarded a $579 million contract from the Department of Defense.

Experts said the defense side of the business is separate from the commercial side, so that injection of money wouldn't have prevented the layoffs. 

Copyright 2020 WFSB (Meredith Corporation). All rights reserved.


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(1) comment

Brian C. Duffy

Hayes needs to next announce the percentage of personal compensation he will be voluntarily cutting.

Brian Duffy ~~ Tariffville, CT

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