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Lockheed Martin Sheds 800 Jobs In Space Unit

DDN

Tuesday, August 18th, 2009

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Lockheed Martin's [LMT] Space Systems Co. yesterday announced employment reductions of about 800 aimed at "right-sizing" the company and improving its competitive posture. Space Systems will implement a broad-based workforce reduction by year-end, the company said. The reductions represent about 4.5 percent of the overall workforce and will impact all levels and disciplines, including technical, managerial, and administrative positions primarily at the Denver and Sunnyvale, Calif., facilities. The company also will offer a voluntary layoff plan designed to minimize the…

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