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Lockheed announces 740 job cuts to D.C.-based unit

Lockheed Martin, one of the world's largest defense contractors, has announced a 5 percent workforce reduction at its Mission Systems and Sensors (MS2)business area. The company said it notified 308 of its U.S.-based employees Tuesday "that they will no longer have employment with the company," according to a release.

Tags: acquisition , industry , contracting , layoffs , budget , Lockheed Martin , Robert Stevens

Tuesday - 07/10/2012, 07:53pm EDT