Hughes Space Unit to Cut 450 Jobs
Associated Press
Hughes Space & Communications will eliminate 450 jobs to offset slowing demand for satellites from customers in Asia and Latin America, a spokesman said. The layoffs, which amount to about 5% of the company’s work force, will take effect in mid-November. The satellite market has flattened in recent months, largely due to financial crises in Asia and South America. Pink slips were handed out Wednesday.
