Lockheed Martin Corp on Thursday said it plans to cut 250 jobs in its Missiles and Fire Control business by late November as part of an overall "belt tightening" drive. Lockheed confirmed the news, which was first announced to workers this week, in a statement. The company said the workforce reductions would include some involuntary layoffs, affecting people at various locations. The business employs about 15,000 workers.
Lockheed said the layoffs would affect most of its US operations to some extent, except the contract it has to provide logistics support to the US Special Operations Command, and a its technical services business, which is under a strategic review for a possible sale or spin-off.