Virginia Businesses in the News


Cutbacks and Closings

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For the Record is compiled from company releases, business journals and newspaper reports from around the state. If you have an item for these listings: • Mail it to: For the Record Virginia Business Magazine P.O. Box 85333 Richmond, VA 23293 • E-mail it to ForTheRecord@va-business.com • Fax it to (804) 649-6311

Norfolk Southern Corp., a railroad headquartered in Norfolk, plans to offer severance packages to salaried, nonunion employees who have worked a minimum of two years, as a means to cut costs to control expenses. (The Virginian-Pilot)

Northrop Grumman, a shipyard based in Newport News, plans to delay the overhaul of the aircraft carrier Carl Vinson by a year after the Navy determined it has enough nuclear fuel to operate another year. The delay could result in shipyard layoffs and cost about cost $300 million in lost revenue for 2004. (Daily Press)

Ntelos, a communications provider based in Waynesboro, plans to discontinue cable television service to customers in the Roanoke and Richmond on Dec. 31. The company says it no longer wants to compete with other cable and satellite providers or deal with increases in programming costs. (The Roanoke Times)

Western Auto Supply Co. of Roanoke, a subsidiary of Advance Auto Parts Inc., plans to stop supplying merchandise and services to its wholesale distribution network of 304 independent Western Auto dealers as well as 44 other independent retailers. Due to a variety of products supplied and reduced concentration of stores over a wide geographic area, it has become difficult to serve dealers effectively. (PR Newswire)