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Mon, Jan 27, 2003

Raytheon to Furlough 600 Kansans

Biz-Air Payroll to Shrink by 600, by Year's End

Raytheon's quarterly analyst conference call last week brought few surprises; but it still wasn't welcome news for the good folks in Kansas.

Jim Schuster, Raytheon Aircraft chairman and CEO, said during the conference call, that there's no reason to expect a sudden boom in aircraft sales this year: "We're not taking a real optimistic view of the marketplace," he told the analysts. "We're going to manage the devil out of our costs."

As the company forecast a downward revision in deliveries, from 274 to 268, it detailed the effect on jobs that such a revision dictated.

It's not as though it takes 100 workers a year, to build a Raytheon aircraft; but, with the forecast's contraction, the trend in jobs was certainly pointing one way only.

Salina (KS), where Raytheon employs 450 workers who make wings for the Beechjet, King Air, and Premier, will pare its force to 400 by year-end; Wichita, where 7100 now work, will drop some 550 from its payroll.

FMI: www.raytheon.com

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