Lockheed Martin Announces COVID-19 Financial Assistance

Lockheed Martin CEO Marillyn Hewson announced that the company plans to spend $66.5 million to assist vulnerable suppliers and employees during the COVID-19 crisis, and pledged to offer its corporate capabilities and assets to assist communities where it operates.

In a March 27 statement, the company said it will advance “more than $50 million to small- and medium-sized business partners in our supply chain to ensure they have the financial means to continue to operate, sustain jobs, and support the economy.” A further $10 million will be donated to “non-profit organizations involved in COVID-19–related relief and assistance,” with emphasis on aid to veterans and military families. Another $6.5 million will help its own employees and retirees affected by the crisis.  

The company also offered its engineering and technical know-how to “help solve the most pressing challenges” faced by governments at the local, state, and federal level. It is offering the use of its corporate aircraft and ground vehicle fleet for “COVID-19 relief logistical support and medical supply delivery.” Lockheed will moreover donate “use of our facilities for crisis-related activities including critical medical supply storage, distribution, and COVID-19 testing, where needed and practical.” Finally, Hewson said Lockheed will continue to conduct recruiting and hiring, using virtual technology and other techniques to do so while maintaining social distancing, as part of its efforts to promote “job creation and economic recovery.”

“We … recognize that the global pandemic has created a need for urgent action by government, business, communities, and citizens,” the company said. In addition to helping its communities, it will continue to protect its workers’ health and safety and “perform and deliver for our customers” during the pandemic, Hewson said.