EL SEGUNDO : Aerospace Corporation Plans More Layoffs
The Aerospace Corporation, an El Segundo-based research and development center, is preparing for another round of cutbacks, about two months after 85 employees were laid off. Officials declined to speculate how many workers will be laid off from the federally funded center under the new Department of Defense budget for the fiscal year beginning July 1.
“It is clear that defense downsizing is continuing to erode our business base,” wrote Aerospace President Pete Aldridge in a memo distributed to employees recently. “Additional belt-tightening measures will be required.”
Aerospace’s funding this year is expected to be $360.44 million--$49 million less than the nonprofit corporation received last year and $8 million less than it had budgeted this year.
The final amount will be negotiated in upcoming weeks with the El Segundo-based Air Force Space and Missile Systems Center, Aerospace’s primary customer.
Employment at Aerospace is 3,600, down from 4,100 in 1989. About 160 people left in October under an early retirement program.
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