Complex sentence: As part of its agreement with the city, Adam Aircraft had agreed to create 448 jobs, but had only created 90 jobs, almost all eliminated in the round of lay-offs in January, preceding closure.
Split into simpler sentences: As part of its agreement with the city, Adam Aircraft agreed to create 448 jobs. The company had only created 90 jobs, almost all of which had been eliminated in the previous round of lay-offs in January, preceding closure.