Raytheon Technologies Realigns Business Units To Reduce Customer Costs, Drive Innovation (From Forbes)

Raytheon Technologies reported its fourth-quarter and full-year results for 2022 on January 24, matching or exceeding company forecasts. However, the big news in the earnings call was disclosure of a plan to realign business units, combining both legacy Raytheon units into a single entity. The company thus intends to operate with three overarching business units: Collins Aerospace, Pratt & Whitney, and the new unit, called simply “Raytheon.” Chairman & CEO Greg Hayes says the realignment will cut costs, bolster cross-corporate collaboration, and leverage synergies to deliver solutions responsive to the needs of government customers. I have written a commentary for Forbes here.