Posted by Courtney E. Howard
FORT WORTH, Texas, 27 Sept. 2011. Lockheed Martin (NYSE:LMT) officials announced plans to improve operational efficiency and reduce the company staff by roughly 540 positions across its Aeronautics business division. The company currently employs more than 28,000 at its principal Aeronautics sites in Fort Worth, Texas; Marietta, Ga.; and Palmdale, Calif.; as well as six smaller locations. The larger sites will see the greatest reductions, and 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. 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,” says Ralph D. Heath, executive vice president, Lockheed Martin Aeronautics.
The company previously announced a 1,200-position reduction, in June, which was to be completed by year-end. Officials granted more than 450 voluntary layoffs, as well as eliminated roughly 300 open positions, in an attempt to reduce the number of involuntary layoffs.