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Lockheed Martin Announces Voluntary Layoffs At Aeronautics

Cal Biesecker By
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Lockheed Martin Announces Voluntary Layoffs At Aeronautics
F-35 developer Lockheed Martin is part of the Aerospace Industries Association (AIA) trade group. Photo: Air Force

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…

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