Heavy layoffs in Lockheed
The US defense contractor, Lockheed Martin Corp is planning to axe around 600 employees in their Mission Systems and Training departments citing economic challenges. The companies, however, denies that the layoffs have anything to do with the US government shutdown. The company said it would provide details by Nov. 6 about which of its 100 locations around the country would be affected. The US government recently rolled out some measures mandating cuts in defense budgets, leading companies like Lockheed to rightsize.
The US defense contractor, Lockheed Martin Corp is planning to axe around 600 employees in their Mission Systems and Training departments citing economic challenges. The companies, however, denies that the layoffs have anything to do with the US government shutdown. The company said it would provide details by Nov. 6 about which of its 100 locations around the country would be affected. The US government recently rolled out some measures mandating cuts in defense budgets, leading companies like Lockheed to rightsize.
Read the Economic Times news report here.
