Raytheon Technologies is planning to cut more than 15,000 jobs by the end of the year. FOX Business’ Gerri Willis with more.
Raytheon Technologies on Wednesday disclosed that it has received a criminal subpoena from the Department of Justice involving its defense business.
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The request for information dates back to 2009 and pertains to “financial accounting, internal controls over financial reporting, and cost reporting” regarding its missiles and defense unit.
The company said it is fully cooperating with the investigation and that it is unable to predict the outcome, but does not anticipate any negative effects on its financial condition.
RAYTHEON DEFENSE BUSINESS DRIVES QUARTERLY PROFIT BEAT
The disclosure comes on the heels of the company’s quarterly earnings report, where it said sales in its defense unit fell in the third quarter.
Shares were trading more than 6% lower near the end of Wednesday’s trading session.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| RTX | RAYTHEON TECHNOLOGIES CORP | 52.34 | -4.19 | -7.41% |
A spokesperson for the company did not return FOX Business’ request seeking additional comment on the probe.
