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Lockheed lays off 240 in Moorestown

Lockheed Martin Corp. has given layoff notices to 240 employees at its operation Moorestown. The workers were notified last week, and for most their last day will be next Wednesday.

Lockheed Martin Corp. has given layoff notices to 240 employees at its operation Moorestown.

The workers were notified last week, and for most their last day will be next Wednesday.

About 3,500 employees will remain at the Burlington County site, Lockheed Martin spokesman Keith D. Little said.

The layoffs were part of a nationwide workforce reduction announced Oct. 16 totaling 587 in Lockheed's Mission Systems and Training business, Little said.

The layoffs were "necessary to address continuing challenges in our business environment, including continued uncertain program funding, delays in contract awards, and an extremely competitive market," Little said.

In 2006, Lockheed employed 4,500 at the Moorestown site. The location is best known for the Aegis weapons system, which was designed 40 years ago to allow combat ships to detect and destroy incoming missiles.

In recent years the system has been modified in a bid to defend against ballistic missiles.

Against competitors Boeing Co. and Raytheon, Lockheed Martin in March won a $100 million contract to keep is role as the primary systems engineer for the Aegis system through 2018.

Lockheed Martin also works on U.S. Coast Guard combat systems in Moorestown, Little said.

Lockheed has additional Philadelphia-area operations in Newtown and Valley Forge.

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