Tight budget forces 150 layoffs for Waco’s L-3Tight budget forces 150 layoffs for Waco’s L-3https://www.recenter.tamu.edu/news/newstalk-texas/?Item=53262014-01-08T11:11:00Z2014-01-08T00:00:00Z

WACO - L-3 Communications, Waco’s largest industrial employer, will lay off about 150 people because of government belt-tightening. Salaried and hourly positions will be affected, and employees will be offered severance packages and outplacement assistance.

The company occupies a sprawling complex at Texas State Technical College airport, where it can modify and maintain military aircraft or transform the personal jets with luxury amenities.

The plant still employs about 2,000 and has enjoyed generally steady growth since L-3 acquired it from Raytheon in 2002. L-3 remains determined to grow and “will diversify our work to include more international defense and commercial projects,” said Lance Martin, public relations manager.

Previously, the company laid off about 50 salaried and hourly employees in 2011, again because of federal budget trimming.

Waco Tribune-Herald
http://www.wacotrib.com/news/business/l--planning-to-lay-off-about/article_f59b7a10-c22b-505e-b051-ef01bfef05e6.htmlRead more at {Source}

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