Layoff News
Northrop Grumman Holds Another Round Of Layoffs; 642 Employees To Be Laid Off
By todd | Dated: 08-25-2010
Military contractor Northrop Grumman as announced another round of layoffs. Citing a decreased demand from the U.S. Navy, Northrop is slowing down its shipbuilding operations in Pascagoula, Mississippi. The contractor will slash 642 employees from its payroll. That equates to about 5.8% of the facilities staff.Earlier this month, Northrop announced 300 layoffs at facilities in Avondale and Tallulah in Louisiana.
A company release stated that the layoffs were due to the “cyclical nature of shipbuilding.”
Last year, Northrop made a total of $33.76 billion in sales from their various endeavors including aerospace, electronics and information systems.
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