Lockheed Martin [LMT] said recently that its Space Systems division will cut roughly 1,200 employees by year-end. It is anticipated that middle management will be reduced by 25 percent, with smaller percentage impacts in other levels. The largest impacts are expected at the company's sites in Sunnyvale, Calif., the Delaware Valley region of Pennsylvania, and Denver, Colo., where several of the company's major space programs are transitioning out of development. Overall, the division employs 16,000. Joanne Maguire, executive vice president,…
Lockheed Martin Space Systems To Cut Roughly 1,200 Positions
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