AEROSPACE & DEFENSE
From Times Staff and Wire Reports
Virginia Shipyard Announces Layoffs: Newport News Shipbuilding & Dry Dock Co. has announced that it will eliminate 1,000 jobs and close a plant in North Carolina next year because of lagging demand. The company, a subsidiary of Houston-based Tenneco Inc., said 500 workers will be laid off in Newport News, Va., and that another 500 jobs will be phased out at its plant in Asheville, N.C., which will be closed by next June. The latest cuts, combined with other layoffs and attrition over the last few years, will reduce the shipyard’s payroll to about 23,000 workers by the end of this year. Before the cutbacks, the yard had 28,000 employees.
