Northrop, Lockheed, Boeing plans defense job cuts

Updated because of broken link.

Tuesday, September 28, 2010

Northrop Grumman workers in El Segundo and Redondo Beach brace for cuts

Northrop Grumman announced that it would eliminate 500 jobs in its aerospace division, with most of the cuts expected to hit its sprawling facilities in El Segundo and Redondo Beach.

"Lockheed Martin Corp., the nation's largest defense contractor, said earlier this month that about 25% of its executives opted for a voluntary retirement program designed to cut costs as defense spending slows. More than 600 vice presidents and directors applied for the program offered in July, the Bethesda, Md., company said."

"This month, Boeing Co., the second-largest defense contractor, said it was planning to trim its military aircraft business and cut workers as the federal government tightens defense spending and profit margins shrink. The company's military division makes the C-17 military transport in Long Beach, the F/A-18 fighter jet and the Chinook helicopter."

"The Chicago-based company said job cuts would start with 10% of the group's executives. Boeing didn't say how many more workers would lose their jobs."

The cuts in the military budget is reflected in Boeing's military division employees.

Start with 10% cut of the executives.

Consolidate six divisions into four divisions.

Lockheed is cutting 25% of its executives.

Northrop Grumman makes not mention of eliminating any executives - MUST BE that Northrop Grumman executives are MORE SMARTER and LOWER PAID than their Boeing and Lockheed counterparts.

Expect the same type of thing to happen at Northrop Grumman.