Wed, Jun 15, 2011
Middle Management To Be Reduced By 25 Percent
Lockheed Martin Space Systems Company, which is a major
business area of the Lockheed Martin Corporation, announced
employment reductions Tuesday that are designed to "address
affordability and improve its competitive posture."
Space Systems, which currently employs approximately 16,000
employees in 12 states, will implement a broad-based workforce
reduction of roughly 1,200 employees by year-end. It is anticipated
that middle management will be reduced by 25 percent, with
significantly smaller percentage impacts in other levels and
disciplines.
Operations across the country will be affected, with the largest
impact expected at the company's sites in Sunnyvale, CA, the
Delaware Valley region of Pennsylvania, and Denver, CO, where
several of the company's major programs are transitioning out of
development.
Joanne Maguire, executive vice president, Lockheed Martin Space
Systems, said, "In today's economic environment, we have two
choices: make painful decisions now or pay a greater price down the
road. This is a difficult but necessary action to improve
efficiencies and make our business more competitive going forward.
We will remain relentlessly focused on achieving operational
excellence and mission success for our customers as we position to
deliver more affordably in the future."
Space Systems will offer eligible salaried employees an
opportunity for a voluntary layoff to minimize the number of
involuntary layoffs that will occur. The company also will provide
career transition support to those affected by this workforce
reduction.
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