- - Tuesday, June 14, 2011

LAYOFFS

Lockheed space division to cut 1,200 jobs

DENVER — Aerospace and defense contractor Lockheed Martin Corp. plans to cut 1,200 employees in its space systems equipment division.

The company said Tuesday the cuts will be nationwide and trim the division’s 16,000-person work force by nearly 8 percent. The company said middle management will be reduced by 25 percent.

The cuts will most heavily affect areas where Lockheed Martin is ending contracts, such as Sunnyvale, Calif., the Delaware Valley region of Pennsylvania, and Denver.

Lockheed said it will offer voluntary layoffs to eligible salaried employees to minimize involuntary job cuts.

The space systems division makes a variety of products, from satellites to spacecraft and missile defense systems, used by military and commercial customers. Lockheed didn’t specify which programs are being ended.

TECHNOLOGY

Unlocked iPhones for sale in U.S.

NEW YORK — Apple Inc. on Tuesday started selling “unlocked” iPhones in the U.S. for the first time, allowing owners to switch carriers to a limited extent and save money when traveling.

Apple is selling them on its website and its store for $649 and $749 depending on how much memory they have. They’re identical to the versions sold for use on AT&T Inc.’s network, but don’t require a two-year contract.

The buyer will have to buy a Subscriber Identity Module, or SIM card, from a carrier to activate the phone. Apart from AT&T, the only national U.S. carrier that’s compatible with the phone is T-Mobile USA, and it can provide only phone calls and low data speeds. Its U.S. 3G wireless high-speed data network isn’t compatible with the iPhone.

GREECE

Future Central Bank chief: Greek default too costly

BRUSSELS — Mario Draghi, the likely next head of the European Central Bank, on Tuesday endorsed the bank’s hard line against letting Greece default on its borrowings to lessen its crushing debt burden.

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