Wednesday, April 24, 2013
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. 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. Read more on The Washington Post.
Thursday, February 7, 2013
Lockheed spokeswoman Nettie Johnson said the company expects to reduce its workforce by about 300 to 350 employees, The Washington Post reported.
Looking to shrink its workforce by "about 300 to 350 employees," Lockheed Martin's Gaithersburg-based information systems unit is offering a voluntary layoff program to a select group of mid-level managers, The Washington Post reported. Certain employees within sectors including the transportation solutions and defense businesses are eligible for the program, a memo issued by Lockheed said, according to the report. The Washington Post reports Lockheed said in a statement that the “reduction in force is designed to best position the business to remain competitive and operationally efficient, providing the most affordable solutions to our customers.” Read the full story on The Washington Post.
Friday, October 19, 2012
Report: Rockville-based biotech to begin job cuts this month after acquisition by Glaxo.
Human Genome Sciences plans to cut 97 jobs—and likely more—as the Rockville-based biotechnology firm continues restructuring after being bought by British pharmaceutical giant GlaxoSmithKline, Baltimore Business Journal reported. Last month, Human Genome announced plans to cut 114 of its 1,110 positions beginning this month, the Business Journal reported. The 97 additional cuts will begin Dec. 15. More cuts are projected to begin Nov. 30 and continue into 2013, Human Genome officials told the state’s Department of Labor, Licensing and Regulation on Wednesday, the Business Journal reported. GlaxoSmithKline acquired Human Genome in August for $3.6 billion acquisition ($14.25 a share). The ownership transition reportedly has not gone …
Tuesday, September 25, 2012
Gaithersburg-based biopharmaceutical company announced Tuesday the reduction of approximately 30 percent of its employees.
GenVec, Inc., a Gaithersburg-based biopharmaceutical company, announced Tuesday it will cut nearly one-third of its workforce in order to lower its operating costs to conserve capital. "While it is a difficult decision to eliminate positions in our talented and dedicated workforce, this move is necessary to ensure that our costs are more closely aligned with our resources and business strategy," Cynthia Collins, GenVec's President and Chief Executive Officer, said in a company statement. The GenVec will eliminate 23 positions, approximately 30 percent of its employees, according to a media release. "In response to reduced revenue expectations for 2013, these cost reductions will allow us to fund our operations through the third quarter of…