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Job Layoffs

Huntington Ingalls has 'solid' 2nd quarter, CEO says

Huntington Ingalls has 'solid' 2nd quarter, CEO says

Budget gridlock isn't solely to blame for pending layoffs at Huntington Ingalls Industries' Newport News shipyard, but it contributed to a dip in work that will prompt job cuts, the company CEO said Thursday. HII President and CEO Mike Petters drew the distinction during a conference call with Wall Street analysts as he discussed the company's second quarter results, which he deemed "solid." HII's Newport News Shipbuilding division will finish work on three aircraft carriers over the next 18 months. The USS George Washington will arrive next year for a mid-life refueling, a project delayed due to previous disagreements over defense spending that led to...

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