🎁 💸 Warren Buffett's Top Picks Are Up +49.1%. Copy Them to Your Watchlist – For FreeCopy Portfolio

Raytheon says it is a 'target' of a DOJ probe into industry hiring practices

Published 02/11/2022, 07:11 PM
Updated 02/11/2022, 07:15 PM
© Reuters.
RTN
-
RTX
-

(Reuters) - Raytheon Technologies (NYSE:RTX) Corp said it is a target of a U.S. Department of Justice investigation into hiring practices in the aerospace industry, the U.S. aerospace and defense firm said in a filing on Friday.

No criminal charge has been filed against the company or its affiliates, the company added.

Raytheon (NYSE:RTN) had received a subpoena in late 2019 focused on alleged hiring restrictions between Pratt & Whitney, a subsidiary of Raytheon, and some of its suppliers of outsourced engineering services. It also included requests regarding Collins Aerospace.

© Reuters. FILE PHOTO: The Department of Justice (DOJ) logo is pictured on a wall after a news conference to discuss alleged fraud by Russian Diplomats in New York December 5, 2013. REUTERS/Carlo Allegri

A former Pratt & Whitney employee and some other employees of outsourced engineering suppliers were charged in December for restricting the hiring and recruiting of engineers and skilled laborers in a way that violated antitrust laws.

"Raytheon Technologies is committed to complying with applicable state and federal laws and is cooperating fully with the government's inquiry," the company said in a statement.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.