The COVID-19 vaccine mandate deadline for federal contractors is rapidly approaching, and major North Texas companies are coming to terms with what that means for the future of their workforces.
Aerospace and defense contractor Raytheon Technologies is at risk of losing thousands of employees if they aren’t vaccinated by the Biden administration’s Dec. 8 deadline, chief executive officer Greg Hayes said in a CNBC interview Tuesday.
Hayes said about 3% of the company’s workers indicate they don’t intend to get the shot, and another 3% will seek religious or medical exemptions. About 83% of the company’s employees are already vaccinated, and 6% are in the process of complying.
“We’re going to be faced on Dec. 8 with a choice,” Hayes told CNBC. “We’re going to potentially lose several thousand people who refuse to be vaccinated. This is a tough thing, but we’re preparing for it. Frankly, it’s the right thing to do. We need to have people vaccinated to get this pandemic under control.”
Raytheon’s workforce of 125,000 U.S. employees included 8,600 in Dallas-Fort Worth as of September 2020.
The company is actively expanding its North Texas presence with the opening of a new 178,000-square-foot facility at its McKinney campus in September, adding 500 jobs to the area. An even larger second plant and lab is expected to open by 2025, which will create 700 new jobs.
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In a conference call with analysts after the release of Raytheon’s third-quarter earnings, Hayes said he expects the federal contractor mandate to also cause some disruption in the supply chain.
“It’s not just the prime contractors, but it’s also all of our subcontractors that need to follow that mandate as well,” he said. “This is not huge in the grand scheme of $64.5 billion in revenue, but there will be some expected impact.”
About $42 billion of Raytheon’s 2020 revenue — or 65% — came from defense contracts, according to a DefenseNews ranking of the 100 largest federal contractors.
Other federal contractors with large footprints in the Dallas area include defense companies Lockheed Martin and L3 Harris Technologies, health care distributor McKesson and engineering firms Fluor Corp. and Jacobs.
Both Lockheed and Raytheon are among the five major corporations that received one-quarter to one-third of all Pentagon contracts in recent years, according to a Brown University study.
Beverage giant and federal contractor Coca-Cola is offering a $2,000 one-time bonus to all fully vaccinated employees, as well as those who receive a medical or religious exemption.
In its quarterly financial report, Lockheed said it is currently implementing the vaccine mandate at its U.S. sites, which includes its aeronautics division in Fort Worth and missiles and fire controls division in Grand Prairie.
“It is uncertain to what extent compliance with the vaccine mandate may result in workforce attrition for us or our suppliers,” according to the company’s filing. “If attrition is significant, our operations and ability to execute on our contracts could be adversely affected.”
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