Lockheed Martin is seeking to cut roughly 1,000 mid-level jobs through voluntary lay-offs at several of its plants and offices across the U.S., including at its Marietta plant.
The defence and aerospace contractor on Monday told about 9,000 salaried employees in its aeronautics division, which includes the Marietta plant, that they are eligible for the buy-outs, which offer up to 26 weeks of severance pay, based on how many years employees have worked for the company.
“We’re hoping that 1,000 will accept,” said Lockheed Martin spokesman Ken Ross.
Lockheed’s Marietta plant has about 1,800 employees who are eligible, said Ross.
The 5,400-employee plant produces C-130J military transport planes and modifications or upgrades on P-3 surveillance planes and huge C-5 Galaxy military cargo jets.
Military contractors have been under financial pressure as the federal government has cut back on defense spending in recent years, and the dollar’s strength against other currencies have raised the cost of U.S.-made goods for overseas buyers.
Ross said Lockheed Martin determined that it needed to thin the ranks of middle managers, engineers, accountants, lawyers and other professionals at the company.
“Over the last year we’ve conducted a thorough analysis of (the aeronautics division) with an emphasis on designing and developing a workforce that positions us to be competitive in the future marketplace, secure additional business, and keep our resources and infrastructure appropriately aligned with demands,” Ross said in an emailed statement.
“The voluntary layoff is an action we’re taking as a result of that analysis,” he said.
The company is offering severance pay of two weeks plus one week per year of service, up to 26 weeks, said Ross. Employees have until month’s end to accept, and the job cuts will occur in phases in May, August and November.
About the Author
Keep Reading
The Latest
Featured
