More Layoffs Hit Region - NBC 10 Philadelphia

More Layoffs Hit Region

Lockheed Martin Corp. to cut jobs in Philly region

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    More Layoffs Hit Region
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    Aerospace and defense contractor Lockheed Martin Corp. plans to cut 1,200 employees from its space systems equipment division.  That’s nearly 8 percent of the workforce.

    The cuts will affect areas nationwide where the company is ending contracts.  That includes the Delaware Valley..

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

    The cutbacks come as the Obama administration looks to pare down defense spending.

    The space systems division makes a variety of products used by military and commercial customers.