Knoxville Biz  February 28, 2012

Lenoir City defense contractorEOD Technology said Tuesday it is laying off 48 headquarters employees.

In a news release, the company said it was restructuring its business model in response to federal budget cuts, especially those associated with its work in Iraq and Afghanistan.

The release said several government contracts to protect U.S. troops and manage explosive ordnance were expected to extend well into 2012, but have ended earlier than expected because of accelerated U.S. troop withdrawal plans. Following the layoffs, EODT will have 250 American employees and 3,000 foreign nationals. The company said employees who are laid off will be offered severance packages.

“Our employees are remarkable, highly skilled people who are part of protecting the lives of American troops and foreign nationals,” Matt Kaye, EODT’s CEO, said in the release. “As any organization that works with government understands, we recognize that the…