Layoffs at Northrop

At least 500 local employees will be losing their jobs by the end of the year as the aerospace giant prepares to move its headquarters from Century City to Fairfax County, Virginia, a suburb of Washington. No breakout yet on where the cuts will be coming from - Northrop has more than 12,000 workers in Century City, El Segundo and Manhattan Beach. Already, Rep. Jane Harman is out with a statement (via the Business Journal).

"I'm deeply disappointed by these layoffs, which I learned of only at the last minute. The departure of Northrop Grumman's headquarters from California was concerning enough. But, Northrop's CEO Wes Bush assured me that the move would not lead to a downsizing in the workforce. So news that Northrop will be cutting 500 employees, the 'result of increased pressure on Department of Defense spending and the need to remain cost competitive' perplexes me."