Lockheed Martin To Cut 540 Jobs

Lockheed Martin will cut 540 jobs in its aeronautics division as part of ongoing payroll reductions first announced in June. The Washington Business Journal reports the aeronautics division has about 28,000 employees. Lockheed said the affected employees will depart by the end of the year. Meanwhile, Lockheed plans to cut 1,500 jobs company-wide by the end of the year. More than 450 salaried employees agreed to voluntary layoffs offered last month.