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Business/Financial

Amid Strategic Review, Lockheed Martin To Shed 500 Jobs From IT Services Business

Wednesday, September 9th, 2015

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Lockheed Martin [LMT] on Wednesday said it plans to reduce the workforce of its IT services segment by 500 employees to improve the competitiveness of the business, which the company is considering divesting.The company said the pending layoffs, which will be complete by mid-November, are being done due to shifting government priorities, changing industry dynamics, and to improve the competitiveness of its Information Systems & Global Solutions (IS&GS) segment.In July, Lockheed Martin, in conjunction with its announcement that it has…

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