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Lockheed Martin plans voluntary layoffs for 1,000

The announcement comes at a time of reduced government defense spending.
By Ed Adamczyk Follow @adamczyk_ed Contact the Author   |   March 9, 2016 at 11:27 AM
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BETHESDA, Md., March 9 (UPI) -- Lockheed Martin Corp. announced a 1,000-job voluntary layoff program to reduce employment in its Aeronautics Division.

The program will be available to mid-level employee groups in seven of the company's U.S. facilities, and comes at a time of reduced defense spending. The Aeronautics Division is Lockheed Martin's largest division, providing about one-third of its revenue, and builds the F-35 fighter plane and other military aircraft.

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The layoff is meant to "position Lockheed Martin Aeronautics to be competitive in the future marketplace, secure future business opportunities, and keep an infrastructure appropriately aligned with customer demands," a company statement said.

Lockheed Martin employs about 126,000 people. The affected facilities includes those in Fort Worth, Texas; Marietta, Ga.; Palmdale, Calif.; Meridian, Miss.; Clarksburg, W.Va.; Patuxent River, Md., and Edwards Air Force Base, Calif.

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