Lockheed Martin Cutting 4000 Jobs

In response to continued government budget cuts, defense contractor Lockheed Martin announced Thursday that it will close and consolidate several of its US facilities and reduce its workforce by 4000.

By mid-2015, the company said, it plans to close its operations in Newtown, Pa.; Akron, Ohio; Goodyear, Ariz.; and Horizon City, Texas; and four buildings on its Sunnyvale, Calif., campus, which will cut 2000 jobs. By the end of 2014, 2000 positions in the Information Systems & Global Solutions (IS&GS), Mission Systems and Training (MST), and Space Systems business areas will be eliminated as a result of "ongoing operational efficiency initiatives."

As part of the consolidation, all program work and some employees will transition to other Lockheed Martin facilities. Space Systems and IS&GS will transition work to its Denver and Valley Forge, Pa., facilities. The company said it is reviewing potential sites to transition the MST work, including its facilities in Owego, N.Y., and Orlando, Fla., and expects to finalize plans in early 2014. Details on each facility and the consolidation activities can be found on the company's website.

“Reducing our workforce of dedicated employees and closing facilities are among the most difficult decisions we make,” said Lockheed Martin CEO and President Marillyn Hewson. “In the face of government budget cuts and an increasingly complex global security landscape, these actions are necessary for the future of our business and will position Lockheed Martin to better serve our customers.”

Since 2008, Lockheed Martin has reduced overhead costs and cut capital expenses, removing 1.5 million sq ft of facility space and reducing its workforce from 146,000 to 116,000. The closures announced Thursday will reduce the company's operational footprint by nearly 2.5 million sq ft.

For more information, visit: www.lockheedmartin.com