Sun, Nov 23, 2014 08:25
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Lockheed Martin Aeronautics Reduces About 540 Positions

Texas Business reports:  FORT WORTH—Lockheed Martin  will reduce its workforce by 540 positions, officials said.

There will be approximately 540 reductions in employment in Lockheed’s Aeronautics business area as part of a plan to trim the organization and improve operational efficiency.

The greatest impacts are occurring at the larger sites in Fort Worth, Marietta, Ga., and Palmdale, Calif.

Lockheed Martin currently has more than 28,000 employees at its principal Aeronautics sites in Texas, Georgia and California and at six smaller locations in as many states. Affected employees are expected to depart the company by the end of the year.

“These reductions are part of Aeronautics' plan to realign the organization, enabling us to meet the requirements of our customers,” said Lockheed Martin Aeronautics executive vice president Ralph D. Heath in a prepared statement. “While this is a difficult decision, we're committed to conducting this process in a fair and responsible manner that treats affected individuals with respect and that does not disrupt the important business we do for our military service customers.”

In June, the company announced a target reduction of approximately 1,500 positions by year-end. In August, Lockheed Martin offered eligible salaried employees an opportunity for a voluntary layoff to minimize the number of involuntary layoffs. More than 450 employees applied for and were approved for voluntary layoff.

The firm also achieved reductions by eliminating about 300 open positions. Earlier this year, the company announced approximately 300 positions in its Sustainment Services organization would be eliminated - those layoffs are included in its target reduction of 1,500 positions.