Lockheed Martin to cut 4,000 jobs

Defence giant Lockheed Martin is to cut 4,000 jobs worldwide in a bid to offset declines in US military spending.

The company announced plans yesterday to shut several of its operational facilities in the US. Lockheed said it would close plants in Newtown, Pennsylvania; Akron, Ohio; Goodyear, Arizona, and Horizon City, Texas. It will also close four buildings at its site in Sunnyvale, California. Company ceo Marillyn Hewson commented: "Reducing our workforce of dedicated employees and closing facilities are among the most difficult decisions we make. "In the face of government budget cuts and an increasingly complex global security landscape, these actions are necessary for the future of our business and will position Lockheed Martin to better serve our customers."