Aerojet SacramentoAero-jet Sacramento
The production of missile engines is combined in a new factory in Huntsville, Ala. A total of 800 new workplaces will be created in Huntsville by the end of 2018. Said the firm said that defense-related programme stewardship, engeneering and related assistance functions in Sacramento will be relocated to Huntsville by the end of 2018.
Most of the remainder of the Group' s existing programmes and supporting operations will be transferred to the Company's Los Angeles Aerospace Operations Center. 300 staff who will stay at Rancho Cordova will work in the areas of finances, law, human resources and other divisions, said corporate spokesperson Glenn Mahone. Not knowing how many workplaces would be leaving the area in 2017.
Eileen Drake, CEO of Aerojet Rocketdyne, said in a declaration that the firm is involved in a two-year process of consolidating to achieve $145 million in yearly cost reductions when it completes in 2019. "With the dynamism of this sector, such strategy choices are challenging but crucial to finding a sound course for our future," she said.
This reduction will complete an important part of Aerojet's long story in the Sacramento region. Aerojet' own missile power plant dates back to 1951. Aerojet' s climax was in 1963, in the middle of the outer racing world, when it had almost 20,000 employees, according to Mahone. "You have a long story with our town... a long story of well paid jobs," he said.
As Terry noted, Blue Shield relocated 800 back offices to Rancho Cordova last year. Mr Terry said he was also optimistic that Aerojet would push ahead with its property developments, a job that has been going on for years. It has approved the construction of 12,000 residential apartments in one of Aerojet's proposed divisions, Rio del Oro.
University of the Pacific economist Jeff Michael said the message was not scandalous given Aerojet's move to Southern California last year. Aerojet has also noted that it has been spending recent years transforming much of its fallow Rancho Cordova property into a number of residential complexes.
Monday was not the first day that Rancho Cordova was informed that it will lose most of Aerojet's operation. announces a plan to divest most of Aerojet's production assets to United Technologies Corp.'s Pratt & Whitney Group. Most of the workplaces at the Rancho Cordova plant would have been delivered to San Jose and West Palm Beach, Fla.
But when the deal failed, the Rancho Cordova store got a grace period. However, Rancho Cordova's activities continued to be fragile even after Aerojet acquired Rocketdyne's Pratt & Whitney businesses and consolidated its position in the aviation and space industries. By 2015, the Group had launched a comprehensive cost-cutting programme aimed at reducing its workforce by 500.
Approximately half of these workplaces were located in Rancho Cordova. Aerojet was in action around the clock throughout the company's prosperity, opening a public indoor and outdoor pools, a staff kids campsite and a shop selling everything from club to fridge.