Lockheed Martin to lay off dozens of Central Florida workers before the holidays

Lockheed Martin Corp. will lay off dozens of workers in Central Florida just before Christmas due to the loss of a contract.

The Bethesda, Maryland-based defense company (NYSE: LMT) will cut 79 employees from its Rotary & Missions Systems division at 4401 Fortune Place in West Melbourne, according to an Oct. 16 letter notifying the state. The layoffs, which will begin on a rolling basis starting Dec. 16, are due to the loss of a Persistent Surveillance Systems – Tethered (PSS-T) contract. Read more here.