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Hate to have to correct you, AYHSMB... but I was a Huntsman supporter last time.

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Layoffs at Harris' Quincy division

Layoffs at Harris' Quincy division

1 year, 5 months ago by Jamie Busen

Company official says layoffs are not a prelude to a shutdown of the facility

At least 17 people were laid off Thursday morning at Harris' Broadcast Communications divisions, say sources within the company. A minimum of 15 reportedly came from Quincy. Sources say they were mostly salaried positions. 

The layoffs come on the heels of Harris' announcement that revenue in the first quarter of the new fiscal year was down six percent year-over-year, and down 13 percent over the last quarter. 

Terri Black, spokesperson for Harris, said they don't comment on "business adjustments to our workforce." 

Black did confirm a "small number" of layoffs, but she wouldn't give specifics. She called the move a "routine business adjustment, a re-alignment of resources with minimal impact." 

"This is not a prelude to any shut down of any facility in Quincy," she added. 

In the earnings report, the Broadcast Communications Division is now marked as a discontinued operation. 

In May, Harris announced it was divesting its BCD. Quincy Mayor John Spring spoke with Harris officials six months ago and they said at the time no jobs "are being eliminated yet." There are 384 people employed in the broadcasting division in Quincy. 

Today, Spring said he spoke with Harris officials who assured him the reductions were "minimal" and said this was not the start of an exit as the company is having good discussions with potential buyers.

Spring said he was told the company just procured two major contracts for digital transmitters that would keep the Quincy plant busy.

Harris' earnings announcement said, "Based on recent indicators of value during the first quarter of fiscal 2013, including market, financial performance and indications of value from interested parties, we recorded additional non-cash impairment charges in discontinued operations for Cyber Integrated Solutions and Broadcast Communications totaling $222 million." 

During a conference call earlier this week, Harris CEO Bill Brown said, "Our first-quarter results in Broadcast were a little less than what we expected both because the market is a little bit tough and because some of the issues around us selling the business causes some of our customers to be a bit hesitant. So the results were a little bit worse than we expected ...." 

Black said officials have identified potential buyers and are "very pleased, everything is on track and going exactly as we hoped - better than we hoped." She said they hope to have a letter of intent with a buyer signed in the coming months. 

Click here for more.

http://blog.devoncroft.com/2012/10/30/harris-corp-announces-q1-fy-2013-results-further-writes-down-value-of-broadcast-business/


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