A New Bedford Parachute manufacturing Compnay may be laying off a third of their workforce.

Niche Inc is warning the state and its employees that about 360 people could lose their jobs. The company laid off about 400 people in April when orders for its product were not forthcoming, despite a recently signed federal contract.

A spokesman for the company says they're working to obtain new contracts and isn't certain if the layoffs will be temporary or permanent.