Northrop Grumman (NYSE:NOC) has decided to lay off about 400 employees.

Northrop Grumman (NYSE:NOC) Cuts 400 Jobs

Reports say that the US based defense technology giant Northrop Grumman (NYSE:NOC) will lay off about 400 employees, including 60 in Norwalk from its Electronic Systems sector.

Jack Martin, Jr., director of public relations for Northrop Grumman (NYSE:NOC) Electronic Systems said, “Most of the jobs eliminated in Norwalk were engineering positions. Further staff reductions came from Maryland and other Electronic Systems locations throughout the country. Employees impacted by the workforce reduction will receive all separation and other benefits for which they are entitled.”

Northrop Grumman (NYSE:NOC) shares are currently standing at 60.17.

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