Shrinking defense budgets force Lockheed Martin Mission Systems & Sensors to cut 740 jobs

WASHINGTON, 15 July 2012. Leaders of defense giant Lockheed Martin Corp. headquartered in Bethesda, Md., are cutting 740 jobs in the company's Mission Systems & Sensors (MS2) business units to improve efficiency and affordability as U.S. defense budgets shrink. Lockheed Martin is the largest U.S. defense contractor.

The company last week notified 308 U.S.-based employees they will no longer layoff program in May and resulted in 432 employees voluntarily leaving the company. The combined defense job cuts reduced the total workforce of MS2 by about 5 percent, company officials say.

U.S. defense company leaders have adopted a relatively pessimistic view of prospects for increased defense spending -- especially with automatic defense cuts of $500 billion over the next 10 years will happen on 1 Jan. if Congress cannot agree to controlled cuts.

Clay Jones, chairman and CEO of avionics and defense electronics designer Rockwell Collins in Cedar Rapids, Iowa, for example, said last week at the Farnborough International Airshow in Farnborough, England, that he expects the U.S. defense budget to shrink in 2014 and 2014 no matter who wins the election, incumbent President Barack Obama or Republican challenger Mitt Romney.

“Given the budget pressures facing our customers, Lockheed Martin is examining every aspect of our business to ensure we are as efficient and cost effective as possible in meeting their needs,” says Dale P. Bennett, president of Lockheed Martin Mission Systems & Sensors.

“Reducing our workforce is a difficult but necessary decision to position our business for future growth and ensure we remain competitive,” Bennett says.

Lockheed Martin MS2 has about 15,000 employees located at numerous sites around the U.S., Canada, and Australia, including Moorestown, N.J.; Owego, N.Y.; Syracuse, N.Y.; Manassas, Va.; Baltimore; Akron, Ohio; and Orlando, Fla.

The MS2 segment concentrates on ship and aviation systems, radar systems, surface and sea-based missile defense systems, and undersea systems. The company has expertise in radar, sonar, electro-optics, and sensor-processing technologies.

For more information contact Lockheed Martin MS2 online at www.lockheedmartin.com/us/ms2.

Follow Military & Aerospace Electronics and Avionics Intelligence news updates on Twitter

Easily post a comment below using your Linkedin, Twitter, Google or Facebook account.


The Innovation That Matters™ Quiz

Innovation is one of the key drivers in the Defense industry. View this short video of Leon Woo, VP of Engineering at Mercury Systems, on the role of innovation. Then, answer 3 simple questions correctly to be entered into a drawing to win an Eddie Bauer fleece jacket!

CONGRATULATIONS TO OUR TWO MOST RECENT WINNERS. "Nick from SPARWAR" and "Bridget from AOC."


Military & Aerospace Photos

Wire News provided by   

Most Popular Articles

Webcasts

Meeting the Gen3 backplane challenge with OpenVPX and COTS

Tight Pentagon budgets mean military systems must stay in the field for longer than ever before. This doesn't mean obsolete technology, however. Today's military electronics are being upgraded constantly, an...
Sponsored by:

Digital signal processing for signals intelligence and electronic warfare

Military & Aerospace Electronics presents an expert Webcast on the design considerations for blending general-purposes processors (GPUs), general-purpose graphics processors (GPGPUs), field-programmable ...
Sponsored by:

Advantages of Intel Architecture Products and Wind River Solutions in Military & Aerospace Applications

This webinar explains the individual advantages of the Intel Architecture hardware, available for long-life supply, and the WRS software portfolio.  There are extraordinary advantages of combining such ...
Sponsored by:

social activity

All Access Sponsors


Mil & Aero Magazine

February 2014
Volume 25, Issue 2
file

Download Our Apps



iPhone

iPad

Android

Follow Us On...



Newsletters

Military & Aerospace Electronics

Weekly newsletter covering technical content, breaking news and product information
SUBSCRIBE

Defense Executive

Monthly newsletter covering business news and strategic insights for executive managers
SUBSCRIBE

Embedded Computing Report

Monthly newsletter covering news on embedded computing in aerospace, defense and industrial-rugged applications
SUBSCRIBE

Unmanned Vehicles

Monthly newsletter covering news updates for designers of unmanned vehicles
SUBSCRIBE