TribLIVE

| Business


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

Lockheed Martin to lay off 4,000, shrink operations

Email Newsletters

Click here to sign up for one of our email newsletters.

On the Grid

From the shale fields to the cooling towers, Trib Total Media covers the energy industry in Western Pennsylvania and beyond. For the latest news and views on gas, coal, electricity and more, check out On the Grid today.

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.

Subscribe today! Click here for our subscription offers.

 

 


Show commenting policy

Most-Read Business Headlines

  1. Cheap oil can hurt economy
  2. Parent of Lane Bryant, Justice to buy owner of Ann Taylor for $2B
  3. Shareholder vote causes ATI to review executive pay packages
  4. Murray Energy expects to lay off as many as 1,800 more
  5. Pa. sees widespread job gains; jobless rate holds at 5.3%
  6. Truck ducts keep blowing out hot air
  7. Wal-Mart presses meat, egg suppliers on antibiotics, animal treatment
  8. Electric versions of Asian rickshaw paves their way into U.S. market
  9. Look for 1st rate hike this year, Yellen says