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News briefs: November 7
Posted: Thu, Nov 8, 2001, 10:14 AM ET (1514 GMT)
  • Lockheed Martin announced plans Wednesday to eliminate 360 jobs in its Space Systems division. The reductions will be spread out between its Colorado and California offices and include personnel in departments like human resources and information technology, but not spacecraft engineers themselves. The reductions, to be carried out through a mix of attrition, transfers, and some layoffs, will save the company $30 million a year.
  • Orbital Sciences Corporation reported Wednesday a net profit of $5.6 million in its fiscal third quarter. The company had an operating loss of $16.3 million for the quarter, but the sale of non-core business units gave the company a slim profit. The company has a net loss of $121.3 million in the same quarter last year.
  • Eurockot announced this week that it has won a contract to launch a Japanese satellite. A Rockot booster will launch the Space Environment Reliability Verification Integrated System 1 (SERVIS-1) spacecraft for Japan's New Energy and Industrial Technology Development Organization in 2003 from Plesetsk, Russia. SERVIS-1 will test the effectiveness of some commercial off-the-shelf technologies in the space environment. The Rockot is a modified SS-19 ICBM and has had one successful flight, a commercial demonstration mission in May 2000.
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