Officials say aerospace firm Lockheed Martin is cutting 550 jobs at its metro Atlanta plant as production of its C-130 aircraft slows.
The Atlanta Journal-Constitution reports (http://bit.ly/OxikKP) that the move was announced Wednesday but is already under way.
Lockheed spokesman Peter Simmons said the cuts at the Marietta plant were needed because production of the latest version of the plane, the C-130J, has plunged by one-third from 2011 to 2013.
Simmons says the company will use retirements and attrition to account for some of the job cuts, with the rest accomplished through layoffs.
Workers at the Marietta plant produced 36 C-130Js in 2011 to meet the U.S. government's demand, but that number dropped to 32 this year and is set to fall to 24 per year starting in 2013.
Yahoo is buying online blogging forum Tumblr for $1.1 billion as CEO Marissa Mayer tries to rejuvenate an Internet icon that had fallen behind the times.
After falling woefully out of fashion, Yahoo wants to be cool again while catering to the capitalistic demands of its shareholders. That goal led CEO Marissa Mayer to make a $1.1 billion bet on online blogging forum Tumblr...
Wednesday, May 15 2013 5:41 AM EDT2013-05-15 09:41:00 GMT
The recession hasn't spared any age group, but it's been especially hard on seniors. More and more Americans 62 and older are turning to reverse mortgages to supplement their cash. But is it right for you?
The recession hasn't spared any age group, but it's been especially hard on seniors. More and more Americans 62 and older are turning to reverse mortgages to supplement their cash. But is it right for you?
Wednesday, May 15 2013 5:04 AM EDT2013-05-15 09:04:58 GMT
The amount of money many of us pay in taxes in a given year is often times larger than any purchase we'd make. Where does that really money go? Well, there is a way to find out.
The amount of money many of us pay in taxes in a given year is often times larger than any purchase we'd make. Where does that really money go? Well, there is a way to find out.
Monday, May 13 2013 6:56 AM EDT2013-05-13 10:56:00 GMT
It's pretty normal these days when you're apartment hunting to be asked to pay an application fee. Those fees can be pretty steep, and can be at least $50 for every application.
It's pretty normal these days when you're apartment hunting to be asked to pay an application fee. Those fees can be pretty steep, and can be at least $50 for every application.
