Lockheed Martin [LMT] on Tuesday said its aeronautics business segment commenced a voluntary layoff program aimed at reducing employment by about 1,000 positions in the United States.
Lockheed Martin’s aeronautics segment is responsible for developing and producing the F-35 fighter, the F-16 fighter, the F-22 fighter, C-5 and C-130 transport planes.
The company didn’t say what costs it might incur as a result of the voluntary layoff program. It said the reductions are necessary to better position the segment to be more competitive, secure business opportunities and keep its infrastructure aligned with customer demands.
Lockheed Martin said the program is available to mid-level employees in Fort Worth, Texas, where aeronautics is based and the F-35 is developed, and in Marietta, Ga., Palmdale, Calif., Meridian, Miss., Clarksburg, W. Va., Patuxent River, Md., and Edwards AFB, Calif.