No big deal, just one of the largest defense contractors warning of supply chain disruptions due to President Joe Biden’s COVID-19 vaccine mandate for federal contractors:
BREAKING: Vaccine mandate for federal contractors is expected to cause more supply chain disruptions in the coming months, @RaytheonTech CEO Greg Hayes says on company’s third quarter earnings call
— Marcus Weisgerber (@MarcusReports) October 26, 2021
And they wonder why we shout, “Let’s go, Brandon!”:
The OSHA order sitting at OMB is really a testing mandate, with a vaccine exemption.
The federal employee and contractor orders are much worse — vax or you're fired, even if you're 100% work-from-home.
The national security implications are dire.
— Phil Kerpen (@kerpen) October 21, 2021
Raytheon CEO Greg Hayes said on CNBC that the company will “potentially lose several thousand people who refused to be vaccinated”:
"We are going to potentially lose several thousand people who refuse to be vaccinated. This is a tough thing but we are preparing for it," says @RaytheonTech CEO Greg Hayes. "We need to have people vaccinated to get this pandemic under control." pic.twitter.com/MmrjItrRDl
— Squawk Box (@SquawkCNBC) October 26, 2021
You. Don’t. Say:
"Supply chain and people availability," says @RaytheonTech CEO Greg Hayes on factors impacting revenue $RTX. "It's certainly a constraint right now. We are also suffering a little bit on the commercial side with the slow down of the 787 down in Charleston." pic.twitter.com/OyovZ6Wkti
— Squawk Box (@SquawkCNBC) October 26, 2021
Hayes does say Raytheon has been able to manage the chip shortage that is another main driver of the supply chain crisis:
"We've got about 13,000 product suppliers…we're on top of it with suppliers," says @RaytheonTech CEO Greg Hayes. "The fact is there are a lot of chips in a lot of our different products–we are not unimpacted but we have been able to manage it." pic.twitter.com/155AOiYX90
— Squawk Box (@SquawkCNBC) October 26, 2021
But a later guest on the show said that these issues won’t be balanced out until late 2022 or 2023:
"We've got a ways to go here," says $CSCO CEO @ChuckRobbins on chip shortage. "I've talked to a lot of folks in the semiconductor side– they believe second half of 2022 is when we'll start to see improvement. With supply and demand balancing out sometime in 2023." pic.twitter.com/dAnhCKvDue
— Squawk Box (@SquawkCNBC) October 26, 2021
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