Lockheed Martin [LMT] said this week that its Aeronautics segment will lay off 540 employees by the end of this year, with the greatest impacts to be felt at its facilities in Fort Worth, Texas, Marietta, Ga., and Palmdale, Calif.
The employment reduction is part of the company’s plan announced in June to cut about 1,500 positions by year-end.
Speaking about the layoffs at Aeronautics, Ralph Heath, the head of the division, said in a statement that “These reductions are part of Aeronautics’ plan to realign the organization, enabling us to meet the requirements of our customers.”
The company also said that more than 450 salaried executives have applied for and have been approved for a voluntary separation program that was announced in August. Further reductions have been achieved by eliminating 300 open positions. The company also announced earlier this year that 300 positions would be cut in its Sustainment Services organization as part of the planned 1,500 eliminations.