More layoffs for Lockheed
- By Washington Technology staff
- Sep 26, 2011
Lockheed Martin’s aeronautics business announced 540 layoffs as part of a plan to trim the costs and improve efficiency, the company announced.
Most of the staff reductions will occur in Forth Worth, Texas; Marietta, Ga.; and Palmdale, Calif., and should be completed by the end of the year. Lockheed Martin has 28,000 employees in its aeronautics business.
This is the latest in a series of layoffs by Lockheed Martin as it and the rest of the defense industry deal with reductions in the military’s budget. In additions to layoffs, the company has had two rounds of voluntary buyouts to reduce its executive ranks and to lower costs in its corporate structure.