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Aerospace

October 21, 1994|From Times Staff and Wire Reports

Aerospace Corp. to Lay Off 150: The nonprofit research and development concern said the work force cuts, effective Nov. 4, represent 5% of the firm's 3,320 employees. The El Segundo-based company said the layoffs stem from reduced funding from the Defense Department, at $335 million in the fiscal year that began Oct. 1 from $360 million the prior year. Aerospace Corp. said its employment has fallen 25% since 1990 because of steady declines in federal funding.

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