Lockheed Martin cutting 4,000 jobs, closing plants

BETHESDA, Md. Lockheed Martin (LMT) is cutting 4,000 jobs, about 3.5 percent of its workforce, as the defense contractor continues to look for ways to lower costs amid reduced government spending.

Bethesda, Maryland-based Lockheed Martin Corp. said Thursday that it will close plants in Arizona, Ohio, Pennsylvania and Texas, as well as four buildings in a California campus, by mid-2015, eliminating 2,000 jobs.

Another 2,000 positions will be cut in its information systems and global solutions, mission system and training and space systems units by 2014's end.

Work will be transitioned to other Lockheed plants, and some employees will move to other facilities.

Lockheed Martin said it has cut its workforce to 116,000 employees from 146,000 since 2008.