Lockheed space systems unit to cut jobs

Defense contractor Lockheed Martin Corp said its space systems division plans to cut 800 jobs, or about 4.5 % of the unit’s workforce, in response to soft demand.
Lockheed, based in Bethesda, Maryland, said the space systems job cuts would affect all levels and disciplines, including technical, managerial and administrative posts, mainly at facilities in Denver and Sunnyvale, California, Reuters reports.
The company said it would offer voluntary layoffs to minimize the number of forced job cuts.
The action is needed to “adapt to our current projected business base,” a company executive said in a statement.
Lockheed employs about 146 000 people worldwide.

Pic: Space launch