Lockheed Drops Plans to Issue Layoff Notices on U.S. Cuts
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Lockheed Martin Corp., the world’s largest defense contractor, dropped plans to issue layoff notices in anticipation of across-the-board defense spending cuts set to begin Jan. 2.
Lockheed said today in an e-mailed statement that it decided notices under the Worker Adjustment and Retraining Notification Act aren’t needed “after careful review” of guidance issued last week by the White House Office of Management and Budget and the Defense Department.