Force Protection To Cut 10 Pct Of Work Force

LADSON, S.C. (AP) — Force Protection plans to reduce its work force by 10 percent, or about 120 workers, as it copes with a decline in orders for military vehicles over the past year.

The Ladson, S.C.-based defense contractor expects to record a third-quarter severance charge of $2 million.

Force Protection Inc. also says it is targeting annual savings of $40 million by realigning its business to focus on spares, vehicle upgrades and training.

The company anticipates completing changes in the first half of 2010.