Electric Boat laying off 434 employees, but....
 

http://abcnews.go.com/Business/wireStory?id=9700797

Seems odd that they will lay off a load of people when they've been
awarded a $24M contract to update a submarine.

http://www.businessweek.com/ap/finan.../D9DHLJTO2.htm

Electric Boat is solely owned by defense contractor General Dynamics.
Really odd to lay people off when there's work to be done.

I know I'm missing something, but what?

Electric Boat laying off 434 employees, but....
 

On 2/1/10 8:05 PM, Tim wrote:
http://abcnews.go.com/Business/wireStory?id=9700797

Seems odd that they will lay off a load of people when they've been
awarded a $24M contract to update a submarine.

http://www.businessweek.com/ap/finan.../D9DHLJTO2.htm

Electric Boat is solely owned by defense contractor General Dynamics.
Really odd to lay people off when there's work to be done.

I know I'm missing something, but what?


They found a Chinese contractor who pays his workers five cents an hour.
Of course, the subs will implode because the Chinese workers can't
really weld...

Electric Boat laying off 434 employees, but....
 

On 01/02/2010 6:05 PM, Tim wrote:
http://abcnews.go.com/Business/wireStory?id=9700797

Seems odd that they will lay off a load of people when they've been
awarded a $24M contract to update a submarine.

http://www.businessweek.com/ap/finan.../D9DHLJTO2.htm

Electric Boat is solely owned by defense contractor General Dynamics.
Really odd to lay people off when there's work to be done.

I know I'm missing something, but what?

Probably excess capacity.

Electric Boat laying off 434 employees, but....
 

On 01/02/2010 6:13 PM, Harry wrote:
On 2/1/10 8:05 PM, Tim wrote:
http://abcnews.go.com/Business/wireStory?id=9700797

Seems odd that they will lay off a load of people when they've been
awarded a $24M contract to update a submarine.

http://www.businessweek.com/ap/finan.../D9DHLJTO2.htm

Electric Boat is solely owned by defense contractor General Dynamics.
Really odd to lay people off when there's work to be done.

I know I'm missing something, but what?


They found a Chinese contractor who pays his workers five cents an hour.
Of course, the subs will implode because the Chinese workers can't
really weld...

Probably could. They even have a facility to maintain nuke subs.