Lockheed Martin Corp. says its aeronautics division is seeking to part with up to 1,000 workers as it works to stay competitive and keep its staff aligned with orders
The parent company, based in Bethesda, Maryland, employs roughly 126,000 workers globally
Buyout offers are being made to mid-level salaried employees throughout the division which includes operations in Fort Worth; Marietta, Georgia; Palmdale, California; Meridian, Mississippi; Clarksburg, West Virginia; Patuxent River, Maryland; and Edwards Air Force Base in California.
About 9,000 employees are eligible for the voluntary layoff from areas including engineering, communications, human resources, finance and supply chain. About two-thirds of those workers are in Fort Worth, said Lockheed spokesman Ken Ross. Lockheed Martin employs about 14,200 in west Fort Worth.
"The action is necessary to position Lockheed Martin Aeronautics to be competitive in the future marketplace, secure future business opportunities, and keep an infrastructure appropriately aligned with customer demands," the statement said. Shares, which closed down 0.2% Tuesday, trade near the top end of their 52-week range of $181.91 - $227.91.
Ross said the job cuts will not affect plans to ramp-up production of the F-35 fighter jet, which is expected to require as many as 1,000 additional assembly line workers. Hiring for those positions has not yet begun, he said, but there is no hiring freeze associated with the job reduction program.
Lockheed Martin Corporation, a security and aerospace company, engages in the research, design, development, manufacture, integration, and sustainment of technology systems, products, and services worldwide. It is based in Fort Worth and makes fighter jets including the F-35 and the F-22.
The separation offer includes two weeks of pay, plus one week for every year of service at Lockheed, Ross said. Eligibility is based on salary level, not seniority. Interested workers are being asked to apply by the end of the month, and departing employees will be scheduled to leave the company in May, August or November.
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