Thousands of workers, including several hundred in Bucks County, will be looking for new work as Lockheed Martin eliminates jobs in the next 12-18 months.
According to a news release, the company plans to close and consolidate several of its U.S. facilities, including one in Newtown.
As part of the consolidation, around 4,000 jobs will be eliminated. Lockheed officials say these actions are in response to continued declines in federal government spending.
“Reducing our workforce of dedicated employees and closing facilities are among the most difficult decisions we make,” said Marillyn Hewson, Lockheed Martin Chief Executive Officer and President. “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.”
By mid-2015, Lockheed will close its operations in Newtown, as well as Akron, Ohio; Goodyear, Ariz., Horizon City, Texas, and four buildings on its Sunnyvale, Calif. campus.
Company officials said all program work and some employees will transition to other Lockheed Martin facilities.
Work at Space Systems operations in Newtown will transition to facilities in Denver, Colo.
This 500,000-square-foot site currently employs approximately 1,050 employees and 800 positions are expected to be affected.
At the Newtown facility, workers produced human space flight systems; remote sensing, navigation, meteorological and communications satellites and instruments; space observatories and interplanetary spacecraft; laser radar; ballistic missiles; missile defense systems; and nanotechnology research and development.
Just over three years ago, Lockheed Martin unveiled a $24 million expansion project in Newtown, which included an addition to the facility's manufacturing capabilities as well as a conference center.
Lockheed Martin's headquarters are in Bethesda, Md.