The Los Angeles Times reports that Northrop Grumman will eliminate 500 jobs in El Segundo, Calif., and Redondo Beach, Calif., in anticipation of a major decline in U.S. defense spending. Redondo Beach is home to the company’s satellite-making operation.
The story quotes experts who say that the 500 job cuts announced Sept. 27 is only the start.
“Century City-based Northrop cited anticipated slowing in Pentagon spending for the cutback, and analysts said further job losses were likely in coming years as the federal government grapples with rising budget deficits.
“After several years of heady growth amid one of the biggest military buildups in decades, most analysts are now expecting a long stretch of cuts in weapon purchases. Northrop, the nation’s third-largest defense contractor, is one of the largest private employers in the region.”
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