Job cuts at Northrop

Not a huge number by big corporation standards - 500 - but most of the losses are likely to come from Socal, where the company's aerospace systems division is based. (Here's the LAT story). A company spokesman cited "defense budget uncertainties and pressures on current and projected business." Yeah, I know it sounds flimsy, but all the aerospace companies are bracing for big Pentagon cuts, and so there's probably a lot of cost/benefit assessments going on. By the way, this is the week Northrop's corporate headquarters officially moved from Century City to Falls Church, Va.