The federal government's shipbuilding agency will shed 400 full-time workers, apprentices and subcontractors by the end of the year as the air warfare destroyer project winds down.
But Finance Minister Mathias Cormann, who is responsible for the ASC shipbuilder, said there is "light at the end of the tunnel" with the government committed to build 54 vessels in Australian yards, including 12 submarines,12 offshore patrol vessels, nine future frigates and 21 Pacific patrol boats.
At present there are 1231 workers and including apprentices on sites and 338 sub-contractors on site, a Senate estimates hearing was told on Tuesday.
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