A companywide restructuring at Concurrent Technologies Corp. has prompted the company to cut 23 employees from its workforce nationwide, including 16 at its Richland location, CTC officials said.
CTC’s president and CEO, Edward Sheehan Jr., said the restructuring will put the company’s research and development work into three categories: engineering, technology and services. The move will allow CTC to provide more focused competitive services to clients during tough times for defense firms nationwide.
“These decisions are always difficult,” Sheehan said of the job cuts.
He said the employees will receive severance compensation, “and we remain appreciative of the contributions those employees have made to CTC’s success.”
Mary Bevan, CTC corporate communications director, said the other job cuts occurred at the Annapolis Junction, Md., and Crystal City, Va., locations.
The nonprofit defense and technology firm employs about 1,000 people at nearly 50 locations across the nation and globe, Bevan said.
About 600 work at the Richland Township location, down from nearly 800 two years ago, Bevan said.
Sheehan said the newest cuts reflect “our need to be as lean as possible” even as conditions improve for the defense industry and the economy in general.
“While the federal marketplace recently has been and will continue to be a challenge to navigate and predict, I am very positive about CTC’s future,” Sheehan said.
Bevan said the company’s restructuring into the three groupings is a shift from a more all-encompassing “matrix-based” environment.
Now, CTC’s technology sector will include existing software development work, cloud-based computing programs and other tech-driven work such as mobile application or “app” development, Sheehan said. The services sector will include operational support, among other offerings, while engineering will include research, design and product development and testing, he added.
David Hurst is a reporter for The Tribune-Democrat. Follow him on Twitter at www.twitter.com/tddavidhurst