Friday, June 24, 2011

Lockheed Martin Space Systems to Lay Off 1,200 Workers

Lockheed Martin's Space Systems Company will lay off 1,200 jobs in Sunnyvale, Calif.; Denver, Colo.; and the Delaware Valley region of Pennsylvania, by the end of 2011.  It is also laying off as many as 95 jobs in Greenbelt, Md., on Sept. 30, 2011.

Space Systems, which currently employs approximately 16,000 employees in 12 states, anticipates that middle management will be reduced by 25 percent, with significantly smaller percentage impacts in other levels and disciplines.

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."

Lockheed Martin Corporation's Space Systems Company designs, develops, tests, manufactures and operates a full spectrum of advanced-technology systems for national security, civil and commercial customers. Chief products include human space flight systems; a full range of remote sensing, navigation, meteorological and communications satellites and instruments; space observatories and interplanetary spacecraft; laser radar; fleet ballistic missiles; and missile defense systems.

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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. A reduction in the number of employees is an indication of a current or imminent change in the operations of an enterprise and is invaluable in identifying companies including private firms, small public companies, and subsidiaries of major corporations that are in flux. 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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