Sunday, October 6, 2013

Lockheed Martin To Furlough 3,000 Workers After Government Shutdown

UPDATE: Some Lockheed Martin Furloughs Called Off

Lockheed Martin [NYSE:LMT] announced on Friday that approximately 3,000 employees have been identified for furlough on Monday, Oct. 7 as a result of the government shutdown.  The space and defense contractor said that a number of employees affected is expected to increase weekly in the event of a prolonged shutdown. This includes employees who are unable to work because the government facility where they perform their work is closed, or their work requires a government inspection that cannot be completed, or we’ve received a stop work order.

“I‘m disappointed that we must take these actions and we continue to encourage our lawmakers to come together to pass a funding bill that will end this shutdown," said Marillyn A. Hewson, Lockheed Martin Chief Executive Officer and President. “In an effort to minimize the impact on our employees, we are directing affected employees to use available vacation time so they can continue to receive their pay and benefits. We hope that Congress and the Administration are able to resolve this situation as soon as possible.”

In Brevard County, Lockheed Martin has operations in West Melbourne, Titusville, Kennedy Space Center, and the Cape Canaveral Air Force Station.  In neighboring Orange County, the company also has operations just east of Orlando, Florida.

When asked which Lockheed Martin operations would be impacted in Central Florida, company spokesperson, Gordon Johndroe, told Brevard Times that "Today's announcement affects all our business areas across the country. We remain in discussions with our customers to assess individual program impacts. This is an ongoing situation and it’s premature to say where the immediate effects are right now."