- Associated Press - Friday, March 18, 2016

NORFOLK, Va. (AP) - BAE Systems has announced that its Norfolk shipyard will soon be laying off 265 employees, half as many as it had initially estimated.

The company said in a statement Friday that the affected employees will be notified over the next two weeks that they will depart the organization by April 1.

BAE Systems had initially forecast 530 layoffs, but the company says recent contract awards have caused fewer layoffs to be necessary. Still, the company says a further round of layoffs might be necessary in May.

The latest cuts at BAE follow 400 layoffs at the shipyard last fall.

BAE Systems provides ship repair, maintenance, modernization, conversion, and overhaul for the Navy and other customers.

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