Lockheed Martin to Cut 4,000 Jobs

Lockheed Martin announced Thursday it will close or consolidate operations at six facilities and shed 4,000 jobs by 2015. CEO Marillyn Hewson, in a memo to employees, said the move is part of the company’s “proactive actions to address our customers’ challenges and remain competitive in the marketplace.” The cuts also recognize “continued reductions in US government spending.” Closing will be facilities in Newtown, Pa.; Akron, Ohio; Goodyear, Ariz., and Horizon City, Texas. The facility closures will eliminate 2,000 jobs, while another 2,000 will be cut from the Information Systems and Global Solutions, Mission System and Training, and Space Systems divisions. Some of the work will move to other Lockheed Martin facilities. The Newtown facility, which does space systems work, will be hardest-hit, giving up 800 jobs outright and transferring about 250 jobs to Denver, Colo. In a statement, Lockheed said the announcement follows a “strategic review” of current capacity and “future workload projections.” Since 2008, the company said, it has cut its workforce from 146,000 employees to 116,000, and shed 1.5 million square feet of facility space. The new cuts will eliminate another 2.5 million square feet of facility space. (Lockheed Martin release)