Raytheon to shrink office space in push for ‘huge savings’ 

Raytheon Technologies Corp. is planning to shrink its office space even more than originally planned.The Waltham-based aerospace and defense company (NYSE: RTX), one of the largest employers in Massachusetts, reported earnings on Tuesday. CEO Gregory Hayes gave analysts an update on the previously announced plan to reduce $2 billion in costs this year and save $4 billion in cash as the pandemic crushes airline travel, which resulted in thousands of job cuts.

Source: Raytheon to shrink office space in push for ‘huge savings’ – Boston Business Journal