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This action is necessary to address the ongoing challenges in the modern business environment at an extremely competitive market The Lockheed Martin Corp, the largest U.S. defense industry on Wednesday announced plans to lay off 600 workers, citing the growing challenges in the business environment. The company spokesman Keith Little said the layoffs are not related to the partial shutdown of the government of the United States. The company said it will provide details on Nov. 6 on which of the 100 facilities across the country will be affected. "This action is necessary to address remaining challenges in today's business environment and a highly competitive market, as well as continued funding of our programs space mission analysis and design after delays in awarding contracts," he said in a statement Little. The Lockheed has already reduced its workforce by 30,000 employees since 2008 by consolidating facilities and the company representative said that the workforce now stands at 116,000 employees. Last week, 'pulled' to furlough 3,000 workers as a result of the partial shutdown of the U.S. government. Industry executives say the continuing uncertainty about future funding levels and the impasse with the mandatory cuts in defense spending has begun reducing the revenue and profits space mission analysis and design of the entire defense sector. Source: protothema.gr
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