Lockheed Martin to Bear Brunt of $30 Billion in Budget Cuts

By Jason Sherman / January 2, 2005 at 5:00 AM
The biggest single blow in the Pentagon's round of pre-Christmas budget cuts will not be felt by the Navy, whose share of the $30 billion in reductions over the next six years is $14.8 billion, or the Air Force, which is slated to shoulder $15.7 billion in cuts. Instead, it is Lockheed Martin, the largest U.S. defense contractor, that is set to take the biggest hit -- nearly $18 billion in programs scaled back or terminated -- from a budget...

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