Company executives blame slowdown in defense spending
Northrop Grumman announced yesterday it would cut about 500 employees at its Maryland plants this spring because of a slowdown in defense spending.
James F. Pitts, president of the Linthicum-based Electronic Systems Sector, said in a memo to employees obtained by The Capital that the company would offer voluntary buyouts at the Linthicum and Bay Bridge facilities, two other Maryland plants and others outside the state.
Pitts said that if the retirements fall short of the number of job cuts planned, layoffs in a variety of positions will be completed by May.
"While I remain confident that our long-term (Electronic Systems) business strategy will further solidify us as a leading provider of top-quality systems for defense and global security markets, we must address the near-term reduction in business volume," Pitts wrote.
"This shortfall of work affects primarily our Maryland campuses, with some effect at other campuses, and is a direct result of delays and uncertainty in domestic and international programs."
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James F. Pitts, president of the Linthicum-based Electronic Systems Sector, said in a memo to employees obtained by The Capital that the company would offer voluntary buyouts at the Linthicum and Bay Bridge facilities, two other Maryland plants and others outside the state.
Pitts said that if the retirements fall short of the number of job cuts planned, layoffs in a variety of positions will be completed by May.
"While I remain confident that our long-term (Electronic Systems) business strategy will further solidify us as a leading provider of top-quality systems for defense and global security markets, we must address the near-term reduction in business volume," Pitts wrote.
"This shortfall of work affects primarily our Maryland campuses, with some effect at other campuses, and is a direct result of delays and uncertainty in domestic and international programs."
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