Daily Recession covers the world as it goes into recession. The financial crisis, stock market crash, bankruptcies, job cuts, and the turmoil that follows.

Bridgeport company laying off 160

Posted: July 23rd, 2011 | Author: | Filed under: By Location, USA | Tags: | No Comments »

DRS Power Solutions in Bridgeport has notified the state Department of Labor that they plan to eliminate 160 jobs.

The layoffs are scheduled to begin in 60-90 days. The employees will be given a severance plus job placement assistance.

The company, which manufactures generators, tells News 8 that the layoffs are a result of the lack of government contracts.

From: Wtnh

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