Lockheed Martin to lay off 4,000, shrink operations
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.
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