Lockheed to cut about 800 Bay Area jobs Aerospace

Photo of state-of-the-art satellite manufacturing center where the Mobile User Objective System (MUOS) will be built. Last year Lockheed Martin was awarded a $3.26 billion contract to build MUOS which will deliver simultaneous voice, data and video services with cell-phone like functionality to U.S. forces on the move. Photo: Courtesy of Lockheed Martin less Photo of state-of-the-art satellite manufacturing center where the Mobile User Objective System (MUOS) will be built. Last year Lockheed Martin was awarded a $3.26 billion contract to build MUOS which will ... more Photo: Lockheed Martin Photo: Lockheed Martin Image 1 of / 1 Caption Close Lockheed to cut about 800 Bay Area jobs 1 / 1 Back to Gallery

Lockheed Martin Space Systems Co. said Monday it will cut about 800 jobs through a combination of buyouts and layoffs that will affect an undetermined number of workers in the Bay Area.

Lockheed's Space Systems division designs and builds everything from weather satellites to ballistic missiles.

It employs about 18,000 people, about 7,700 of whom work in Sunnyvale, with a few hundred others based in Palo Alto and Santa Cruz.

Lockheed said it is offering an incentive package to attract early retirements or voluntary buyouts but did not disclose the terms.

After that offer expires on Aug. 28, the company will start making layoffs that should be completed by the first week of November.

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Lockheed spokesman Steve Tatum said the process makes it impossible to know at this time how many local employees will take the buyout or be laid off.

Lockheed, which employs 146,000 people overall, reported revenue of $42.7 billion in 2008.