50 SKY SHADES - World aviation news

Lockheed-Boeing rocket venture cuts 350 jobs

Download: Printable PDF Date: 02 Jul 2016 13:41 category:
Lockheed-Boeing rocket venture cuts 350 jobs - Manufacturer publisher
Tatjana Obrazcova
Country: United States
Source: Reuters

A rocket company owned by Lockheed Martin and Boeing said on Friday it cut 350 jobs, with another 400 to 500 layoffs expected in 2017.

The staff reductions amount to a quarter of the workforce at United Launch Alliance LLC, the Centennial, Colorado-based company that supplies the U.S. Air Force with Atlas and Delta rockets to launch military and spy satellites into space.

ULA wants to position itself to better compete against technology entrepreneur Elon Musk's Space Exploration Technologies and other upcoming commercial launch service companies, such as Jeff Bezos' Blue Origin and Paul Allen's Stratolaunch Services.

SpaceX, as Musk's privately owned Hawthorne, California-based firm is known, in April broke ULA's 10-year monopoly on military satellite launch contracts with an $83-million Air Force award to deliver a GPS spacecraft into orbit in 2018.

The price for a SpaceX Falcon 9 launch is 40 percent less than what the Air Force expected to pay for a ULA Atlas 5 rocket ride, Lieutenant General Samuel Greaves, head of the Air Force's Space and Missile Systems Center, told reporters on a conference call after the contract announcement.

About two-thirds of ULA's layoffs were voluntary, with another 110 workers receiving notice on Thursday of an involuntary layoff, Rye said.

The cuts impact employees in Colorado, Texas, California, Alabama and Florida.

Loading comments for Lockheed-Boeing rocket venture cuts 350 jobs...


Gogo Business Aviation Hits Milestone with 100th Business Jet Now Flying with AVANCE L5 System

Gogo Reaches Mark in Six Months, Bringing 4G Experience to 35 Popular Business Jet Models It took just six months for Gogo Business Aviation (NASDAQ: GOGO), the leading global provider of broad...

Boeing to Establish New Technology Research Center in Korea

•Research will focus on strategic technologies to enable innovation •Boeing plans to open the research facility by mid-2018 Boeing announced today the company’s intention to esta...

Airbus and Heathrow celebrate 10th anniversary of first A380 flight to London

More than 200 million passengers have enjoyed the A380 experience Airbus and Heathrow airport are celebrating the 10th anniversary of A380 operations at the airport. They began on March 18th&n...

New agreement for Jersey Aircraft Registry

The Minister for Economic Development, Tourism, Sport and Culture, Senator Lyndon Farnham, has formally invited Ports of Jersey Ltd to assume operational control of the Jersey Aircraft Registry (JAR)....