L-3 Platform Integration is set to lay off 150 employees, reports News Channel 25 in Texas. The Waco-based company placed the blame on sequestration-related cuts to 2014 U.S. Navy aircraft programs, as well as the completion of most engineering work on two major commercial projects. According to a statement from Lance Martin, public relations manager for L-3 Platform Integration, both salaried and hourly positions will be impacted by the cuts. Employees will be offered severance packages and outplacement help. The company employs about 2,000 people in Waco. Martin said L-3 came to the decision after “exhausting all other options to ensure the long-term health and competitiveness of our business.” He also said the company had made efforts to prevent or lessen the number of layoffs. According to the company’s statement, the initiatives included reducing the hiring and number of contractors, reassigning employees from the Navy program to other programs, reducing 2014 budgets and trying to move employees to other L-3 divisions for temporary and full-time work. Martin said that L-3 did have some success in lessening the number of layoffs, noting the company saved about 150 jobs in 2013 because of the company’s “diverse business model.”  It expects to further increase the diversity of its business and customer base, according to news Channel 25.