TribLIVE

| Business


 
Larger text Larger text Smaller text Smaller text | Order Photo Reprints

Lockheed Martin to lay off 4,000, shrink operations

By The Los Angeles Times
Friday, Nov. 15, 2013, 12:01 a.m.
 

Defense contractor Lockheed Martin said it will cut 4,000 positions and close several facilities because of reduced government defense spending.

The Bethesda, Md.-based company said on Thursday it will close plants in Pennsylvania, Ohio, Texas and Arizona by the middle of 2015. It also will close four buildings at its Sunnyvale, Calif., campus.

“Reducing our workforce of dedicated employees and closing facilities are among the most difficult decisions we make,” Chief Executive Marillyn Hewson said.

Lockheed Martin plans to consolidate some of its facilities to become more efficient. The company said some employees would be moved to other locations, partly to reduce costs.

 

 
 


Show commenting policy

Most-Read Business Headlines

  1. Economic indicator rises 0.9% in July
  2. Google Maps opens business doors to online views for shoppers
  3. In 10 years as public company, Google has reshaped IPO landscape, more
  4. Many in Pennsylvania can still get benefit of Affordable Care Act
  5. Indian firm plans exports of ethane from U.S. shale fields
  6. EDMC to cut costs, roll out new grant
  7. United tries to woo fliers with upgraded food options
  8. Family Dollar rejects Dollar General offer
  9. Gas production from Marcellus shale sets record despite fewer new wells going online
  10. Sprint cancels Framily, rolls out new data pricing plan
  11. Government may be trying to force FedEx into settlement, experts say
Subscribe today! Click here for our subscription offers.