Economy

Lockheed Martin cuts 1,500 jobs to reduce defense contract costs

Lockheed Martin's aeronautics division plans to cut about 1,500 jobs in the next few months, perhaps a disproportionate number of them at its Fort Worth headquarters.

The cuts, which aim to reduce costs charged to the government on defense contracts, represent little more than 5 percent of the division's 28,000 workers in nine states.

Spokesman Joe Stout said Thursday that the cutbacks will come largely from management, administrative, engineering and other positions not involved in aircraft construction or repair.

"We do expect the greatest impact will be at our largest sites," Stout said.

Lockheed's Fort Worth operations have about 15,000 employees, about 4,500 of whom are union-represented manufacturing workers. The company's Marietta, Ga., facility has about 8,400 employees, many of them in manufacturing, and its third-largest facility, in Palmdale, Calif., employs about 3,000.

Five hundred workers in San Antonio who repair and rebuild military and commercial aircraft engines will likely not be affected.

Read the full story at Star-Telegram.com

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