Lockheed plans layoffs of 6,500 employees

Voluntary buyouts targets corporate staff to reduce costs


In another move to reduce headcount and costs, Lockheed Martin announced Tuesday that it has launched a voluntary layoff program to reduce headcount by 6,500 employees.

The reduction targets salaried employees that report to corporate headquarters and provide internal business services.

The company said that the layoffs would help align the corporate staff with the needs of Lockheed Martin businesses, which have also been making cuts to staffing in the past year.

Lockheed Martin is looking to reduce costs so that its products and services remain affordable and so that the company can improve efficiency and agility, the company said.

This buyout program follows other reductions including up to 1,500 employees at Aeronautics business, 1,200 employees at Space Systems and the company’s buyout of 600 senior executives earlier this year.

Depending on how many volunteer for the layoffs and other budget considerations, the company will decide whether it needs to make involuntary layoffs.

Lockheed Martin ranks No. 1 on Washington Technology’s 2011 Top 100 list of the largest government contractors.

About the Author

Nick Wakeman is the editor-in-chief of Washington Technology. Follow him on Twitter: @nick_wakeman.

Reader Comments

Please post your comments here. Comments are moderated, so they may not appear immediately after submitting. We will not post comments that we consider abusive or off-topic.

Please type the letters/numbers you see above

What is your e-mail address?

My e-mail address is:

Do you have a password?

Forgot your password? Click here
close
SEARCH
 Top 100 Slideshow
contracts DB

Trending

  • Dive into our Contract Award database

    In an exclusive for WT Insider members, we are collecting all of the contract awards we cover into a database that you can sort by contractor, agency, value and other parameters. You can also download it into a spreadsheet. Read More

  • Is SBA MIA on contractor fraud? Nick Wakeman

    Editor Nick Wakeman explores the puzzle of why SBA has been so silent on the latest contractor fraud scandal when it has been so quick to act in other cases. Read More

Webcasts