Raytheon Still Has Labor Shortfall After Hiring 23,000 Workers

Raytheon Technologies is struggling to fill 13,000 job openings as labor shortages compound the disruption from supplier shortfalls, CEO Greg Hayes told a Morgan Stanley conference on Wednesday.

• Company has already hired 23,000 workers this year
  • Has lost 15,000 to attrition
• Annual sales expected to be at the lower end of forecast range due to supplier strains
  • Sees structural casting shortages crimping engine production through year end
  • Microelectronic chip shortages likely to linger through mid-2023
• Predicts Airbus will produce A320neo at 65-jet monthly rate in 2025, below the planemaker’s target
• Sees Boeing making the 737 Max at a range of ...