Sunday, November 18, 2018
Business

Defense contractor L3 Technologies announces 67 cuts

New York-based L3 Technologies is cutting 67 jobs in its St. Petersburg office, according to a Worker Adjustment and Retraining Notification filed with the state this week. The cuts will begin in late December, the notice said, and run through early May 2019.

"This action affects employees working across multiple functional areas of the business and is part of an ongoing strategy to increase efficiencies and competitiveness," spokeswoman Jennifer Barton said in a statement. "The affected employees are being offered both separation packages and outplacement assistance."

About 50 employees at the affected facility will remain after the cuts, Barton said. The cuts come just two weeks after L3 announced it was merging with Harris Corp. to create one of the world’s biggest defense contractors, L3 Harris Technologies Inc. Its new headquarters will be in Melbourne. Barton said the cuts were scheduled before the merge and are unrelated.

L3 lists five locations in Florida on its website. Shares in L3 Technologies closed Friday at $185.90, down 2.5 percent.

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Contact Malena Carollo at [email protected] or (727) 892-2249. Follow @malenacarollo.

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