Lockheed Martin Space Systems to layoff about 1,200 employees

Posted by John McHale
DENVER, 16 June 2011.Layoffs affecting about 1,200 employees were announced by officials at Lockheed Martin Space Systems Co. Middle management will be the hardest hit with about a 25 percent reduction in the workforce.
While the layoffs affect facilities nationwide, Lockheed Martin officials say the largest impact should be felt at the company's sites in the Delaware Valley region of Pennsylvania, Sunnyvale, Calif., and Denver, Colo., where many major space programs are phasing out -- hence the workforce reduction, company officials say.
"In today's economic environment, we have two choices: make painful decisions now or pay a greater price down the road," says Joanne Maguire, executive vice president, Lockheed Martin Space Systems. "This is a difficult but necessary action to improve efficiencies and make our business more competitive going forward. We will remain relentlessly focused on achieving operational excellence and mission success for our customers as we position to deliver more affordably in the future."
Lockheed Martin Space Systems plans to give eligible salaried employees the choice of a voluntary layoff to cut down on the involuntary layoffs that will occur.