Lockheed Martin to cut 800 jobs in space systems

DENVER: Lockheed Martin says it will eliminate 800 jobs across its space systems division, largely in two facilities in Colorado and California.

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 Denver and Sunnyvale, California, facilities.

The Bethesda, Maryland-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 of necessary layoffs.

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.