Navy signs potential $2.5 billion contract with local shipyards

Photo courtesy: BAE Systems, Inc.

NORFOLK, Va. (WAVY) — The Navy has signed a contract with local shipyards which may help workers in need of jobs.

The contract could be worth about $2.5 billion dollars through 2021.

That money could go to three Norfolk shipyards including BAE systems, which plans to layoff 530 employees in March.

The two other yards involved are Marine Hydraulics and General Dynamics.

The award won’t be enough to stop the layoffs, but it could help workers get jobs in the future.

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