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The Boston Globe

Business

Raytheon cuts forecast, fearing leaner times

Lower defense spending could set sales back 3% at one of state’s biggest employers

Federal government cutbacks are hitting one of the biggest employers in Massachusetts: defense contractor Raytheon Co.

The Waltham firm said Thursday that because of fewer sales to the US government, it expects revenues for 2013 to be down more than 3 percent, following a 1.5 percent decline in sales for 2012.

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