Originally published Wednesday, September 30, 2009 at 12:10 PM
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Force Protection to cut 10 pct of work force
Force Protection plans to reduce its work force by 10 percent, or about 120 workers, as it copes with a decline in orders for military vehicles over the past year.
The Associated Press
Force Protection plans to reduce its work force by 10 percent, or about 120 workers, as it copes with a decline in orders for military vehicles over the past year.
The Ladson, S.C.-based defense contractor expects to record a third-quarter severance charge of $2 million.
Force Protection Inc. also says it is targeting annual savings of $40 million by realigning its business to focus on spares, vehicle upgrades and training.
The company anticipates completing changes in the first half of 2010.
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