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Ingalls plans to reduce workforce by 500

Ingalls Shipbuilding plans to reduce its workforce by 500 people, the company said today.

Today, the company announced a "a voluntary reduction-in-force offer" will be made to all non-union Ingalls Shipbuilding employees in Pascagoula. These type of jobs would include engineers or those who work in the human resources or finance department, among other departments, he said.

The company said: "As a result of increased cost pressures associated with anticipated declining budgets, we must reduce our indirect budgets to remain competitive in an increasingly challenging marketplace. This is an unfortunate but necessary step in order to meet these financial objectives. It is expected this plan would reduce employment by 500. If an employee volunteers and is approved and meets all eligibility requirements, a severance package will be made available."

The move comes just a day after unions at the shipyard approved a three-year contract extension.

The Sun Herald will have more about this story later today on