Business & Tech
Report: Gaithersburg Lockheed Martin Branch Slashes More Than 650 Employees
The Gaithersburg-based information systems unit cut more than 650 employees in the first quarter of the year, The Washington Post reported.
Lockheed Martin's Gaithersburg-based information systems unit has cut its workforce significantly in the first quarter of 2013.
About 240 employees left the company through a voluntary layoff program in February and more than 400 employees in the information systems unit were trimmed involuntarily during the same quarter, The Washington Post reported.
A Lockheed spokeswoman said 168 of the roughly 650 employees were based in the Washington area, according to the report.
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Bruce Tanner, Lockheed’s chief financial officer, said the company is not planning for further reductions at this time, according to the report. Lockheed's workforce reductions cost approximately $30 million.
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