Lockheed Martin's

(LMT) - Get Report

astronautics unit plans to cut 600 jobs from the division's workforce over the course of the year.

The business began 2001 with 7,600 employees, including 5,600 in Denver. By the end of the year, the division will have about 7,000 employees, with 5,000 in Denver, a company representative said.

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Most of the cuts will come through attrition, though there will be some layoffs, the company said.

In recent

New York Stock Exchange

activity, Lockheed Martin lost $1.50, or 4.1%, to $34.91.