Expecting Defense Cuts, Lockheed Will Slash 4,000 Jobs

Law360, New York (November 14, 2013, 3:29 PM EST) -- Lockheed Martin Corp. announced on Thursday a plan to cut 4,000 jobs and close several facilities by mid-2015, hoping to stay one step ahead of further cuts to the U.S. defense budget.

Lockheed Martin said that the cuts will help improve the company's efficiency and affordability in the lean times ahead. The facilities marked for closure are spread across the U.S., located in Newtown, Pa.; Akron, Ohio; Goodyear, Ariz.; Horizon City, Texas; and Sunnyvale, Calif. The Sunnyvale location will not close completely, although four buildings there...
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