Lockheed-Martin is laying-off 550 workers.

The cuts are tied to a slowing of orders for the C-130J aircraft, part of the line which has been a company mainstay since the 1950s.  Production will soon drop to a rate of 24 a year, down from 36 last year.

Kennesaw State University economist Dan Sabbarese tells Channel 2 Action News says this isn't good news for the entire area economy.  "They tend to pay high income and salaries," he says, "so it doesn't help losing these workers at this point in time."

The Marietta plant is one of the area's biggest employees.  

It says some of the job cuts have already happened, and they're handling as many as they can through retirements and attrition.  But union leaders say by far most of the layoffs aren't voluntary.

Economist Sabbarese says it's also true demand for the planes remains strong, and it's possible for it to return to earlier levels.