NEWPORT NEWS, Va. -- The largest industrial employer in Virginia is laying off 314 salaried staff employees and moving about 120 managers to lower-level positions.
Newport News Shipbuilding announced the moves on Friday.
President Jennifer Boykin says it's the first shipyard’s first layoffs in five years.
Boykin wrote that the changes “are necessary cost controls" to help ensure the shipyard's future and the affordability of the ships it builds.
She wrote that it would also reduce the number of management layers.
Newport News Shipbuilding employs roughly 26,000 workers.
The company designs, builds and refuels nuclear-powered aircraft carriers and designs and builds nuclear-powered submarines.
