Lockheed to Cut 4,000 Jobs on U.S. Defense-Spending Cuts
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Lockheed Martin Corp. said it will cut 4,000 jobs and close some operations in response to decreased federal spending, even after third-quarter profit rose 16 percent.
The cuts affect four of the company’s five business segments, sparing only aeronautics, which accounts for 30 percent of the largest U.S. government contractor’s sales and includes the F-35 jet, the Pentagon’s most expensive weapons program.