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
05/30/201511:13:02What's Hitching a Ride With the Air Force's Secret Military Space...
05/29/201517:20:13Pentagon to Push Congress on F-35 Fighter Contract
05/29/201517:07:35Pentagon to Urge Congress to Approve F-35 Fighter Contract
05/28/201512:06:033 Stocks to Watch in Servers
05/27/201517:37:44Lockheed Martin Open to Deals, Mum on Sikorsky -- Update
05/27/201514:10:00Lockheed Martin Completes Assembly of NASA's InSight Mars Lander
05/27/201512:40:03Lockheed Martin Open to Deals, Mum On Sikorsky
05/27/201512:39:08Lockheed Martin Open to Deals, Mum on Sikorsky
05/27/201509:03:00Lockheed Martin Awarded Next Contract to Support U.S. Coast Guard...
05/26/201515:10:51Specialized Disclosure Report (sd)
05/25/201519:35:33Many Happy Returns? Don't Count On It For US Stocks
05/25/201511:30:09Sikorsky Is for Sale -- but Can Anyone Afford It?
05/25/201511:25:04Sikorsky Is for Sale -- but Can Anyone Afford It?
05/25/201511:20:04Sikorsky Is for Sale -- but Can Anyone Afford It?
05/25/201511:15:08Sikorsky Is for Sale -- but Can Anyone Afford It?
05/25/201511:10:04Sikorsky Is for Sale -- but Can Anyone Afford It?
05/25/201511:05:05Sikorsky Is for Sale -- but Can Anyone Afford It?
05/25/201511:00:09Sikorsky Is for Sale -- but Can Anyone Afford It?
05/25/201510:55:04Sikorsky Is for Sale -- but Can Anyone Afford It?
05/25/201510:50:04Sikorsky Is for Sale -- but Can Anyone Afford It?

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