Lockheed Martin to cut 1,200 US jobs

US global security giant Lockheed Martin said Wednesday it will cut approximately 1,200 US jobs as part of a restructuring within its electronics systems business area.

Lockheed announced the job reductions as it unveiled the name and senior-level organizational structure for a new business created in a realignment of two prior stand-alone businesses.

Mission Systems & Sensors, abbreviated by the company as MS2, was launched on January 1 and combines the former Maritime Systems & Sensors, supporting maritime forces, with Systems Integration - Owego.

"As a result of the anticipated synergies and efficiencies the combination will bring, the company expects to eliminate approximately 1,200 US positions from the MS2 business," the company said.

Lockheed said it would notify the affected employees by early April.