Aerojet to cut 10 percent of workforce, including 250 jobs in Sacramento area

The Sacramento Bee reports:

Cutbacks are coming again to Aerojet, the rocket-engine maker that once employed more than 20,000 Sacramentans while helping America put a man on the moon.

Now known as Aerojet Rocketdyne, the company said Monday it will lay off 10 percent of its workforce over the next four years, eliminating 500 jobs nationwide as it kicks off an efficiency and cost-cutting drive. The announcement follows a year in which the company lost $53 million.

A California story.