Lockeed Martin Plans To Cut 1,200 Jobs

DENVER (AP) — Aerospace and defense contractor Lockheed Martin Corp. plans to cut 1,200 employees in its space systems equipment division.

The company said Tuesday the cuts will be nationwide and trim the division's16,000-person work force by nearly 8 percent. The company said middle management will be reduced by 25 percent.

The cuts will most heavily affect areas where Lockheed Martin is ending contracts, such as Sunnyvale, California, the Delaware Valley region of Pennsylvania, and Denver, Colorado.

Lockheed said it will offer voluntary layoffs to eligible salaried employees to minimize involuntary job cuts.

The space systems division makes a variety of products, from satellites to spacecraft and missile defense systems, used by military and commercial customers. Lockheed didn't specify which programs are being ended.

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