.

Lockheed Martin to Close Newtown Facility, 800 Jobs to Be Cut

The Newtown facility will close by early 2015, impacting 800 employees.

Lockheed Martin will close its Newtown facility by mid-2015, the company announced today. As a result of the closure, 800 of the 1,050 employees who work at the Newtown location, which specializes in space systems, will be laid off.

The closure is part of a larger move by Lockheed to consolidate several of its domestic facilities and reduce its workforce by 4,000 positions. Other facilities that will be closed include locations in Akron, Ohio, Goodyear, Ariz. and Horizon City, Texas.

The Newtown facility will close by early 2015 with most commercial and military satellite work transferring to Lockheed Martin’s Denver, Colo., facility, the company announced. It will be a phased process over the next 12 to 18 months, according to details from the company.

In a statement, the company said the measures are being taken to improve the affordability of its products and services.

“These actions are in response to continued declines in U.S. government spending,” the company said in a statement.

“Reducing our workforce of dedicated employees and closing facilities are among the most difficult decisions we make,” Marillyn Hewson, Lockheed Martin chief executive officer and president, said in a statement. “In the face of government budget cuts and an increasingly complex global security landscape, these actions are necessary for the future of our business and will position Lockheed Martin to better serve our customers.”

Since 2008, Lockheed Martin has reduced its workforce by approximately 30,000 employees.  

Boards

More »
Got a question? Something on your mind? Talk to your community, directly.
Note Article
Just a short thought to get the word out quickly about anything in your neighborhood.
Share something with your neighbors.What's on your mind?What's on your mind?Make an announcement, speak your mind, or sell somethingPost something