Litton president says defense work waning.Litton Litton can refer to:
Litton Industries Named after inventor Charles Litton Sr., Litton Industries was a large defense contractor in the United States, bought by the Northrop Grumman Corporation in 2001. Inc. will continue as a military contractor but that segment of its business has stopped growing and in the future will account for a smaller share of its revenues, said Alton Alton (ôl`tən), city (1990 pop. 32,905), Madison co., SW Ill., on bluffs of the Mississippi River 5 mi (8.1 km) above its confluence with the Missouri; inc. 1837. Alton is a shipping and industrial center, and there are oil refineries nearby. Brann, Litton's new president and chief operating officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. . Brann said at the Litton's annual meeting last week that the company's commercial business has been growing while its work on United States' government contracts, which are largely for the military, has been declining. Still, $3.1 billion of Litton's fiscal year 1990 revenues of $5.1 billion were from worldwide defense and aerospace contracts, noted Brann. He said in 1990, United States' government contracts accounted for about 45 percent of the company's business, down from 58 percent in 1987. Largely because of the decline in federal military spending, Litton has eliminated about 600 jobs in Southern California Southern California, also colloquially known as SoCal, is the southern portion of the U.S. state of California. Centered on the cities of Los Angeles and San Diego, Southern California is home to nearly 24 million people and is the nation's second most populated region, and now has a total work force of about 5,400. (Litton employs almost 50,000 worldwide.) Brann said further job cuts may be necessary. "The defense industry is no longer a growth business. We are still in the business and are committed to it and believe in it, but the growth now is in the commercial side," he said. |
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