Lockheed Martin Space Systems Corp. is phasing out many major space programs in Newtown, Pa., Sunnyvale, Calif., and Denver, Colo., resulting in 1,200 layoffs in those regions. The Company plans to cut its middle-management staff by one-fourth, and many other areas is expected to have smaller layoffs .
"In today's economic environment, we have two choices: make painful decisions now or pay a greater price down the road," says Joanne Maguire, executive vice president, Lockheed Martin Space Systems. "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."
The Plant Prospector is a weekly e-mail service that identifies national, regional, and local plants and businesses in transition through layoffs, closings, and work force reductions. Plant Prospector is an ideal prospecting tool for firms that provide services to businesses in transition, such as temporary employment agencies and outplacement firms, and for companies whose business may be affected by change, such as suppliers, professional firms, and insurance companies.
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