AEROSPACE & DEFENSE
From Times Staff and Wire Reports
Lockheed Missiles to Cut 850 More: Lockheed Missiles & Space Co., confronting cuts in the defense budget, said it will eliminate 850 more jobs by year-end, adding to the 1,560 it already has cut this year. The Sunnyvale-based company, the biggest unit of Calabasas-based Lockheed Corp., said 708 of the jobs eliminated so far were through layoffs, the other 852 through retirements and normal attrition. John McMahon, president of the Missiles and Space operation, said the company is offering incentives to 3,200 of its salaried employees to take early retirement. The company has 23,387 employees nationwide.
