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TODAY'S HEADLINES
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JJ McCoy
January 22, 2007
Spacehab Inc., which provides commercial space services to NASA, has eliminated 36 jobs as the company's contract to support space shuttle operations nears completion, Spacehab announced Jan. 18.
The elimination of redundant capabilities will save the company $3.9 million per year, Spacehab said. Costs and planned cash expenditures associated with the restructuring are estimated at $450,000. The cuts will occur at Spacehab's Houston headquarters and its Cape Canaveral, Fla., payload processing facility, though Spacehab does not plan to close any facilities.
"After an exhaustive review of our business, we have aligned Spacehab's infrastructure to enable the company to serve our customers better than ever and achieve our strategic goals," company president and CEO Thomas Pickens said in a statement.
"Concentrating these core resources allows the company to both maintain our signature high performance and remain competitive in the interest of our customers, partners and shareholders."
Spacehab's last contracted space shuttle mission is scheduled for launch in June.
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