Canceled ship overhaul means 500 layoffs at Todd

[UpInArms]

http://seattletimes.nwsource.com/html/businesstechnology/2001890978_bizbriefs30.html

SEATTLE — Todd Pacific Shipyards is temporarily laying off about 500 workers after the Navy canceled the overhaul of an aging supply ship.

Todd expected work on the USS Sacramento to take nearly three months and employ hundreds of workers. Instead, the Navy decided to mothball the 40-year-old vessel, and Todd couldn't find other work to fill the gap, said Michael Marsh, the company's general counsel.

"A shipyard going up and down by 500 people is not big news," Marsh said.

Marsh said Todd typically has 750 to 1,200 employees, depending on its workload. The layoffs reduced the number to 880.

...more...

Guess this is not "big news" so move along folks, no story here.

Remember, we are right on the cusp, any day now, next week, next quarter, very soon...

[The Sushi Bandit]

1. As a former Todd employee..

It always saddens me how the American shipbuilding industry is beholden to the Navy. There was a time when we had steady work with the Navy, repairs, overhauls, and civilian new construction. I watched Todd L.A. close down because we could not compete with the east coast and gulf coast shipyards for Navy work and the rest of the world for civilian work.

Bottom line is there is no money to be made in the business unless you have heavy political clout. Todd has always been short on that.

I was in shipbuilding for over 12 years and will always miss it.