Electric Boat Cuts Will Not be Layoffs

Thursday, December 07, 2006
The Norwich Bulletin reported that Electric Boat’s reduction in jobs this year can be achieved through attrition and furloughs, rather than laying off employees. More than 1,400 jobs were eliminated at EB this year, far fewer than the initial projections a year ago suggesting as many as 2,400 jobs might be lost this year. Of those jobs that were cut, more than 600 came from a series of layoffs throughout the year and the remaining 800 through attrition. Casey noted, however, an increase in design work has allowed the company to recall all 135 designers and engineers laid off last March. Democratic Congressman-elect Joe Courtney, who defeated Simmons in November, said Tuesday EB management and its work force deserve credit for their efforts to mitigate the loss of jobs. He pledged his support to work tirelessly during the next two years on behalf of the company and its workers. Courtney met with union leaders and members at the shipyard last week and plans to meet with management in the coming weeks before the new Congress convenes Jan. 4. Navy plans call for an increase in the shipbuilding budget from $11 billion to more than $20 billion through the next five years. But none of that increase is earmarked for new submarine construction beyond the one-per-year schedule until at least 2012 at the earliest. One furlough at the company recently was accomplished entirely with volunteers. Company and union officials said they hope future furloughs can be handled the same way. source: Norwich Bulletin

People & Company News

STX to Slash Jobs, Sell Yard

To stat above water by restructuring, South Korean Shipbuilder STX Offshore & Shipbuilding Co. plans to lay off about a third of its workforce and sell a yard in France, says a report in WSJ.

Kongsberg Performs Well in Q2

Norwegian defence and marine technology company Kongsberg Gruppen's second quarter 2016 (Q2) financial results shows sales performance broadly in line with recent trends,

Rickmers Holding, E.R. Capital Drop Merger Plan

Rickmers Holding AG and E.R. Capital Holding have jointly decided not to pursue the merger of their ship management activities.   For many years the companies

Tanker Trends

Hellenic Petroleum Profits Rise on Higher Exports

Hellenic Petroleum, Greece's biggest oil refiner, posted a 20 percent rise in second-quarter core profit on Thursday, with higher exports offseting lower refining margins.

Alfa Laval Launches DuroShell LPG/E Cargo Condenser

With the new Alfa Laval DuroShell plate-and-shell heat exchanger, Alfa Laval aims to strengthen its offering in LPG/E cargo reliquefaction with a construction that

Navy Discovers Malaysian Tanker

Indonesia's navy has found a tanker carrying almost US$400,000 worth of diesel that was taken by its own crew last week due to a commercial dispute, says a report in AFP.

 
 
Maritime Contracts Offshore Oil Pod Propulsion Port Authority Salvage Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0818 sec (12 req/sec)