: L3Harris streamlines businesses to 3 segments from 4 #FinanceUSA #StockMarketNEWS L3Harris Technologies Inc. announced Monday an realignment in which it reduced the number of its business segments
@stockMarketNEWS Tue 04 Jan, 2022
L3Harris streamlines businesses to 3 segments from 4 #FinanceUSA #StockMarketNEWS
L3Harris Technologies Inc. announced Monday an realignment in which it reduced the number of its business segments to three from four. The company said the move follows a portfolio shaping process that began in 2019, and emphasized on "high-growth, technology-differentiated businesses." The defense contractor's three segments will be Integrated Mission Systems, Space and Airborne Systems and Communication Systems. The fourth segment that the company had been reporting on previous earnings releases was Aviation Systems. The company did not disclose any financial impact from the streamlining, or impact on its workforce. L3Harris' stock, which was indicated down less than 1%, has lost 2.8% over the past three months through Friday, while the S&P 500 has gained 9.4%.
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