Lockheed Martin is cutting 4,000 jobs — 3.5 percent of its workforce — and closing or downsizing several facilities around the country as it grapples with the pressure of declining defense budgets and the recent government sequestration, the company announced Nov. 14.
Lockheed Martin, the biggest contract with the U.S. government, has led the way in what may become a roster of companies shedding employees under pressure from reductions in Pentagon spending.
Ultra Electronics Holdings Plc fell the most in more than two years after the maker of submarine hunting equipment cuts its full-year sales forecast on delayed government contracts.
U.S. arms makers Raytheon and Lockheed Martin are considering ways to sweeten their offer to build a Patriot missile defense system for Turkey after Ankara said it could still back away from a provisional $3.4 billion deal with China, sources familiar with the issue said Nov. 12.
A Senate committee gave unanimous approval to expand the use of public lands for military training, passing three bills that attempt to reach agreements on conflicts involving mining, wilderness trails and private development.
Female senators backing a bill to remove sex assault cases form the U.S. military chain of command say they may limit their proposal to just rape and sex crimes to win support before a showdown vote as early as this week.
The Veterans Affairs Department is now offering dental insurance to veterans enrolled in VA health care and to some family members of vets.
Japan is finalizing a budget for a new command center for cutting edge research modelled after the U.S. Defense Advanced Research Projects Agency to try to tap a broad swathe of civilian technologies with potential military use.