Newport News Shipbuilding President Jennifer Boykin announced Friday that more than 300 shipbuilders are being laid off and more than 100 managers are being demoted as part of a restructuring effort for the shipyard.
According to Boykin, this is the first workforce reduction the shipyard has experienced in five years. The decision "more evenly distributes management spans and reshapes production and support ratios."
A total of 314 shipbuilders and 119 managers will be impacted.
Boykin said in a Facebook post that severance pay, benefits and transition assistance will be provided to the affected employees, and the shipyard will continue to hire for needed positions.
"It is important to stress that our future remains strong even in the midst of today’s news. We will continue hiring for specific, critical positions," Boykin said. "While these are very difficult decisions, they are necessary cost controls to help ensure the future of our shipyard and the affordability of the ships we build."