Lockheed Martin unit plans job cuts

Article Abstract:

Lockheed Martin Aeronautical Systems, a unit of Lockheed Martin Corp., is planning to downsize up to 2,000 jobs in the next year. According to the unit, the job cuts will take place on all of its levels. This includes management levels. The unit has a staff of 9,550 workers. Forty percent of the job cuts will be made by Lockheed Martin. The downsizing is an attempt by the firm to be more cost competitive.

Comment:

Plans to downsize up to 2,000 jobs in the next year

Aircraft & Parts, Aerospace Product and Parts Manufacturing, Aircraft industry, Lockheed Martin Aeronautical Systems

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American Home Products to cut staff

Article Abstract:

American Home Products Corp. announced that it will downsize almost 13% of the labor force in its agricultural products division. American Home also said it would assume an after-tax charge of $219.9 million (204.7 million euros). The charge is part of the company's restructuring strategy which is intended to make the struggling Cyanamid Agricultural Products more efficient.

Pesticide and Other Agricultural Chemical Manufacturing, Pesticides & Other Ag Chemicals, Abstract, Chemical industry, Pesticides industry, American Cyanamid Co., Wyeth

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