Sunday, Jul 24, 2016
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BUSINESS BRIEF

Lockheed to cut 4,000; close Akron, other sites

BETHESDA, Md. — Lockheed Martin Corp. 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.

The company will close its plant in Akron, which employs about 500 people. It will also close plants in Goodyear, Ariz.; Newtown, Pa.; and Horizon City, Texas by mid-2015.

“In the face of government budget cuts and an increasingly complex global security landscape, these actions are necessary for the future of our business,” CEO Marilyn Hewson said.

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