Defense Firm Aerospace Corp. Will Lay Off 200 Employees
Underscoring the continuing impact of federal defense retrenchment in Southern California, Aerospace Corp., a Torrance research and development center for the Defense Department, will lay off about 200 employees at the end of January, the company announced Friday.
The cuts, resulting from defense budget cuts, amount to about 5.5% of the company’s work force of 3,600 and will affect engineers as well as clerical and other administrative employees. Employees losing their jobs are set to be notified Friday, with the cuts becoming effective Jan. 28.
More than 150,000 aerospace-related jobs in Southern California have been lost in the last five years.
The cuts at Aerospace Corp., which provides sophisticated engineering and design services to the Air Force, are believed to be the first at that company in more than a decade.
A nonprofit company funded entirely by the federal government, Aerospace Corp. said it was forced to reduce spending after a nearly 12% cut in its budget. According to a company representative, Aerospace’s budget for the current fiscal year is about $363 million, approximately $49 million less than the previous fiscal year.
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