Lockheed Martin [LMT] Space Systems Company recently announced plans to streamline operations and reduce indirect business costs to increase its competitive posture--a move that translates into 360 job cuts for employees.
The move is part of a continuing effort that began in late 1999 to integrate several space-related operations within Lockheed Martin, the company said in a statement. The initiative has resulted in savings of $40 million per year so far, it noted.
"While we are proud of our progress, we must remain committed to streamlining operations in order to become even more efficient and competitive," said Albert Smith, executive vice presided of the …
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