Lockheed Martin Cutting 1,500 Jobs

Defense contractor Lockheed Martin plans to cut 1,500 jobs in its aeronautics business. The Bethesda-based company says it must cut costs because of the prospect of limited defense spending. Most of the cuts will fall among higher-paid workers at its main aeronautics centers in Texas, Georgia and California. The aeronautics business has about 28,000 employees. Lockheed employs 126,000 people worldwide.