Philadelphia Shipyard Inc., of which a majority is owned by Aker Capital of Norway, plans to layoff 275 employees by July 20, according to a notice filed with the Pennsylvania Department of Labor.
The facilities at 2100 Kitty Hawk Ave. in Philadelphia marked some milestones last year including completing a four-ship order for Kinder Morgan, recording strong earnings and celebrating the 20th anniversary of its presence in Philadelphia. The minutes of its annual meeting, held April 5, revealed little to indicate that layoffs were looming.
However, a report in the Philadelphia Inquirer earlier this month detailed how the company has no orders amid a lack of shipowners buying new boats.
Find out more about the jobs cuts at the Philadelphia Business Journal.
For more business news, check out pbj.com.
