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Business/Financial

Lockheed Martin To Cut 1,500 Jobs At Aeronautics

Defense Daily Staff

Friday, July 1st, 2011

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Lockheed Martin [LMT] yesterday said it plans to eliminate 1,500 jobs at its Aeronautics business area to improve the affordability of its products and boost operational efficiencies. The pending job cuts, which are mainly targeted at high-level salaried employees, follows another job cutting action the company announced last month at its Space Systems business area, where 1,200 positions are being eliminated to also make its products more affordable and competitive. At Lockheed Martin Aeronautics, which has about 28,000 employees, the…

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