ADVFN - Advanced Financial Network.
HOME» NYSE » L » LMT Stock Price » LMT Stock News

Lockheed Martin Share News

 Lockheed Martin Corp. Stock Price
LMT Stock Price
 Lockheed Martin Corp. Stock Chart
LMT Stock Chart
 Lockheed Martin Corp. Stock News
LMT Stock News
 Lockheed Martin Corp. Company Information
LMT Company Information
 Lockheed Martin Corp. Stock Trades
LMT Stock Trades

Lockheed Martin Cuts 740 Jobs In Mission Systems Unit

By Nathalie Tadena Lockheed Martin Corp. (LMT) said it has cut 740 jobs from its mission systems and sensors business, which the defense contractor said is part of its efforts to improve efficiency and affordability in a challenging budget environment. Lockheed Martin said it informed 308 U.S.-based employees Tuesday that they will no longer be employed by the company. In May, 432 employees left the business as part of a voluntary layoff program. The efforts have reduced the mission systems and sensors business' workforce by about 2%. Overall, Lockheed Martin has about 123,000 employees. "Reducing our workforce is a difficult but necessary decision to position our business for future growth and ensure we remain competitive," said Dale Bennett, president of Lockheed's mission systems business. The mission systems and sensors unit provides systems engineering, software development and program management for the U.S. armed forces, as well as industrial, research and medical customers. U.S. defense contractors have struggled to define the future size and shape of their operations due to uncertainty over Pentagon's budget cuts. Lockheed is viewed as one of the companies most vulnerable to cuts because of its role in large projects such as the Joint Strike Fighter, and last year said it would shed thousands of jobs amid the Defense Department's belt tightening. In April, Lockheed Martin reported a 20% rise in first-quarter profit as the world's largest defense contractor focused on cost and efficiency measures to counter the uncertain outlook for military budgets. Lockheed shares were off by 48 cents to $86.91 in recent trading. The stock is up 7.4% since the start of the year. Write to Nathalie Tadena at nathalie.tadena@dowjones.com.

Stock News for Lockheed Martin (LMT)
DateTimeHeadline
04/17/201417:04:26Pentagon Official Criticizes Pratt & Whitney Over F-35 Costs
04/16/201415:01:22Lockheed Martin's F-35 Fighter to Make Overseas Airshow Debut...
03/28/201412:30:42Five Killed in Indian Air Force's Super Hercules Crash
03/26/201415:35:23Efforts to Cut F-35 Costs Hinge on Foreign Partners
03/24/201416:20:06Lockheed Says Overseas F-35 Sales Goal Intact
03/24/201405:09:15Lockheed Martin Says South Korea Selects F-35A Lightning II Aircraft
03/14/201418:00:33Lockheed CEO's Compensation More Than Doubled -- Update
03/14/201416:23:17Lockheed CEO's Compensation More Than Doubled
03/05/201420:34:37Senior Senate Democrats Prod Pentagon To Start Competing Satellite...
03/04/201418:21:28Pentagon Plans to Fund New Sikorsky Helicopter
03/04/201416:17:54Pentagon Eyes Boost for Aircraft, Missile Defense
03/04/201413:01:05As Pentagon Budget Shrinks, Spending Points to Future Priorities
02/28/201418:36:22India Hopes to Regain Top U.S. Aviation Safety Rating
02/21/201418:34:03Sikorsky to Cut 600 Jobs, Secures Turkey Deal
02/19/201417:59:03Germany's Decision to Cancel Eurofighter Jet Order Narrows Field...
02/05/201414:56:10Navy F-35 Set For Sea Trials After Tailhook Redesign
02/04/201409:24:54Hot Stocks: Hot Stocks to Watch
01/23/201407:10:14Lockheed Martin Sees Higher Profit in 2014
01/15/201422:24:11Raytheon Names Kennedy as Successor to Swanson -- Update
11/29/201308:04:34Kongsberg Gruppen Gets NOK480 Million Deal To Further Develop...

Lockheed Martin and other New York Stock Exchange stock quotes are delayed by at least 20 minutes.
All other stock price data is delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2007 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations

ADVFNADVFN ItalyADVFN GermanyADVFN FranceADVFN BrazilADVFN JapanADVFN UKADVFN US noad