Lockheed unit trims 250 workers amid cuts in other divisions
In one of several measures to increase what it calls operational efficiency, Lockheed Martin Information Systems and Global Solutions has trimmed its employee base by 250.
Lockheed Martin Information Systems and Global Solutions has concluded a voluntary layoff program aimed at reducing its employee base by 250 by February 2012, the company announced Oct. 25.
The program is one of several ongoing affordability measures designed to increase business operational efficiency, the Oct. 25 announcement explained.
Last month, IS&GS opened its program to a small percentage of eligible salaried employees, affording them the opportunity to voluntarily leave the company with severance benefits. IS&GS currently employs nearly 30,000 in the U.S. and internationally.
“We continue to assess and implement a variety of affordability initiatives to ensure the long-term competitiveness of our business,” Linda Gooden, executive vice president of Lockheed Martin IS&GS, said in the announcement.
“Ongoing efforts are designed to position IS&GS strategically, operationally and financially to support our customers, minimize attrition, and deliver value to our shareholders and employees,” she said.
Other workforce reductions continue across the corporation, including 340 employees from a voluntary and involuntary layoff program for corporate headquarters and Enterprise Business Services employees; up to 1,500 employees at Aeronautics; 1,200 employees at Space Systems; and the Voluntary Executive Separation Program (VESP) taken by 600 Lockheed Martin senior executives earlier this year.
The VESP program resulted in a total reduction of 350 executive positions and is expected to reduce net costs by approximately $350 million over the next five years and $105 million per year, each year thereafter, the announcement said.
Lockheed Martin Corp., of Bethesda, Md., ranks No. 1 on Washington Technology’s 2011 Top 100 list of the largest federal government contractors.