Lockheed Announces Sunnyvale Layoffs

Monday, Aug 17, 2009  |  Updated 1:58 PM PDT
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Lockheed Announces Sunnyvale Layoffs

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A sign at the main entrance of Lockheed Martin Aeronautics Company is displayed October 26, 2001 in Fort Worth, TX.

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Lockheed Martin says it will eliminate 800 jobs across its space systems division, largely in two facilities in Sunnyvale and Denver.
     
The reductions represent about 4.5 percent of the overall workforce. All job functions will be affected, including technical, managerial and administration positions primarily at its facilities.

Lockheed specifically mentioned Sunnyvale when talking about job losses.

The Bethesda, Md.-based company said Monday that the jobs cuts are aimed at "improving its competitive posture."

Lockheed says it will offer a voluntary layoff plan to help minimize the number.

The latest cuts are separate from the downsizing under way at its Michoud Operations as a result of the planned fly-out of the Space Shuttle program in 2010.

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