Vectrus cuts 64 headquarters positions

Vectrus has eliminated 64 positions at its Colorado Springs headquarters, a move the company said today will save $8 million annually.

"The corporate realignment, building on organizational actions initiated earlier this year, will also place critical business functions closer to both customers and contracts," Vectrus said in a press release. "The reductions taken today are in addition to 18 open or unfilled positions the company eliminated throughout the year."

In September, Vectrus announced it lost two major recompetitions, including one for its largest program. As Inside Defense reported last week, the contractor has filed protests with the Government Accountability Office over both awards.

Ken Hunzeker, chief executive of Vectrus, said in today's press release the new job cuts won't affect the company's performance on current contracts or its spending on business development.

The reductions are expected to cost $2 million in severance in the fourth quarter of this year.

"The company expects to realize additional savings in 2017 through reductions taken on non-labor discretionary expenditures," Vectrus said.