Lockheed Martin, the world’s largest defense contractor, announced a revamp of its business division back in November. Today the company said that as a result of the ongoing realignment, some 1200 jobs may be cut. With a total workforce of around 140,000, this represents a little under 1% of the company’s employees.
Lockheed Martin was formed in 1995 as a result of the merger of Lockheed with Martin Marietta. The company is based in Bethesda, Maryland. The company is known for products like the Trident missile system and the F-22 “Raptor” fighter plane.
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