AEROSPACE

Raytheon Announces Consolidation, Job Cuts: The Lexington, Mass.-based company said it would cut 940 jobs in the United States and Britain as it combines its Beech Aircraft and Corporate Jet subsidiaries into one aviation business to be called Raytheon Aircraft Co. Weak demand in the business aviation market prompted the company to seek ways to lower costs. The firm said it would cut 450 jobs in Wichita, Kan.; 140 in Little Rock, Ark., 40 in Salina, Kan., and 310 in England. Raytheon Corp. acquired Beech in 1980 and bought Raytheon Corporate Jets from British Aerospace about a year ago. The company also said it would move the final assembly and engineering and support activities for the Hawker mid-size jets--made by Raytheon Corporate Jets--from Britain to Wichita.