Lockheed Martin said today it plans to cut about 1,500 employees this fall across its aeronautics business to increase operational efficiency and improve the affordability of its products.
Lockheed Martin said the biggest impact will be felt at its larger sites in Texas, Georgia and California. The company employs about 28,000 people in those three states as well as at six smaller locations in six states.
A company spokesman did not immediately return a phone call.
“Bold and responsible action is necessary to meet customer expectations and reduce our costs,” Ralph D. Heath, executive vice president of Lockheed Martin Aeronautics, said in a statement. “We are realigning the organization to be more efficient and agile, and a reduction in force will enable us to meet the requirements of our changing business environment.”
Lockheed Martin will offer certain salaried employees the option of a voluntary layoff and will notify eligible workers in August. Layoffs will begin in mid-September.
Based in Bethesda, Maryland, Lockheed Martin employs about 126,000 people worldwide. It is the nation’s largest military contractor.