Lockheed Martin has announced 1500 job cuts

Lockheed Martin has announced plans to cut 1500 job across its Aeronautics division, citing a need to increase product “affordability” and “operational efficiency” ahead of spending cutbacks by the Pentagon.

The company employs approximately 28,000 people in its Aeronautics business across the United States, with the bulk of reductions expected to come from its principal sites in Texas, Georgia and California. Lockheed Martin will offer “eligible salaried employees” the option of voluntary layoffs in August, with the company set to undergo an extensive review of “every organization and position” before making arbitrary reductions in mid-September.

“Bold and responsible action is necessary to meet customer expectations and reduce our costs. We are realigning the organization to be more efficient and agile, and a reduction in force will enable us to meet the requirements of our changing business environment,” Lockheed Martin Aeronautics executive vice president, Ralph Heath said.

The recent development follows Lockheed Martin’s announcement of 1200 job cuts in its space systems equipment division just over two weeks ago.

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Lockheed Martin cuts 1500 jobs