BETHESDA, Md. — In a story Nov. 14 about Lockheed Martin cutting 4,000 jobs and closing some plants, The Associated Press reported erroneously that Lockheed Martin makes the Patriot missile defense system. Raytheon is the prime contractor of the Patriot missile defense system. Lockheed Martin is a component provider and subcontractor to the Patriot missile defense system.
A corrected version of the story is below:
Lockheed Martin cutting 4,000 jobs, closing plants
Lockheed Martin cutting 4,000 jobs, closing 4 US plants as US gov't cuts spending
BETHESDA, Md. (AP) — Lockheed Martin is cutting 4,000 jobs, about 3.5 percent of its workforce, as the defense contractor continues to look for ways to lower costs amid reduced government spending.
"In the face of government budget cuts and an increasingly complex global security landscape, these actions are necessary for the future of our business," CEO Marilyn Hewson said Thursday in a statement.
Across-the-board spending cuts by the federal government have helped trim U.S. budget deficits. Budget negotiators in Congress are holding talks centered on find ways to cut spending and tax breaks to replace the automatic cuts that started earlier this year that are slamming the Pentagon and domestic agencies.
Bethesda, Md.-based Lockheed Martin Corp. provides components for, and is a subcontractor to, the Patriot missile defense system. It also makes F-35 and F-16 fighter planes. Lockheed Martin will close plants in Goodyear, Ariz.; Akron, Ohio; Newtown, Pa.; and Horizon City, Texas; as well as four buildings at its Sunnyvale, Calif. campus, by mid-2015, eliminating 2,000 jobs.
