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Lockheed Laying Off 370 In Fort Worth

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FORT WORTH (AP/CBSDFW.COM) – Lockheed Martin Corp. is laying off 540 employees in plane-making operations in Texas, Georgia and California.

The company said Monday it expected most of the affected workers to leave by year end.

Lockheed is trying to cut costs in response to pressure to limit defense spending.

A spokeswoman says 370 of the layoffs will be salaried executive and administrative jobs at its Fort Worth facility.  Another 115 will be in Marietta, Ga., and 55 in Palmdale, Calif.

Lockheed assembles its F-35 fighter jet at the Fort Worth plant.  The costly program has been the target of criticism partly because it’s five years behind schedule and millions of dollars over budget.

(Copyright 2011 CBS Local Media.  The Associated Press contributed to this report.)

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