The company said it will lay off approximately 50 employees because of unforeseen business circumstances.
The Raydon Corporation announced in a letter to the City of Port Orange that it will lay off approximately 50 people working at its facility located at 1420 Hockney Court.
"Raydon has experienced an unforseen business circumstance, which has resulted in a change in the company's finances," said Donald Ariel, chief executive officer for Raydon, which provides military training through virtual reality. "As a result, we anticipate that portions of the business will not be able to continue to operate."
Rayon began permanent layoffs on Oct. 1, and they are providing as much notice as possible to its employees, which work within different departments, including administrative, engineering and management, according to the letter.