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Lockheed Martin Slashes 4,000 Jobs After US Budget Cuts

Nov. 14, 2013 - 05:22PM   |  
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NEW YORK CITY — US defense contractor Lockheed Martin said Thursday it would cut 4,000 jobs and close four facilities due to US budget cuts.

The cuts are "in response to continued declines in US government spending," the company said in a statement.

Lockheed plans to shutter facilities in Akron, Ohio; Goodyear, Arizona; Newtown, Pennsylvania and Sunnyvale, California.

The facility closures will eliminate 2,000 jobs with another 2,000 jobs slashed due to corporate reorganization efforts.

"Reducing our workforce of dedicated employees and closing facilities are among the most difficult decisions we make," said Marillyn Hewson, Lockheed Martin chief executive.

"In the face of government budget cuts and an increasingly complex global security landscape, these actions are necessary for the future of our business and will position Lockheed Martin to better serve our customers."

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