Lockheed Martin adding 350 jobs in Colorado as it consolidates and reduces workforce elsewhere

DENVER - Lockheed Martin announced Thursday that it will close and consolidate several of its U.S. facilities and reduce its workforce by 4,000 jobs, but it is expanding its Colorado facility and relocating or hiring 350 people for Denver.

By mid-2015, Lockheed said it plans to close its operations in Newtown, Pa.; Akron, Ohio; Goodyear, Ariz.; and Horizon City, Texas; and four buildings on its Sunnyvale, Calif., campus.

"The facility closures will result in the elimination of 2,000 positions and ongoing operational efficiency initiatives will result in the elimination of an additional 2,000 positions in the Corporation’s Information Systems & Global Solutions (IS&GS), Mission System and Training (MST), and Space Systems business areas by the end of 2014," Lockheed Martin said in its news release.

However, over the next 1 to 2 years, Lockheed will create an improved manufacturing, assembly and
test operations at its Waterton Canyon location, adding or modifying approximately 200,000 square feet to the Littleton facility.

Most commercial and military satellite work will be transferred from Newton, Pa., to Denver.

"Our goal is to be fully transitioned  from Newtown, and fully functioning in Denver by the end of 2015," Lockheed said in its release.

The global aerospace giant said its job reduction across the country are in response to continued declines in U.S. 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."

In Akron, the closure of its 677,000 square foot facility means the elimination of 500 jobs.

In Sunnyvale, Calif., approximately 200 jobs will be eliminated and approximately 600,000 square feet of facility space will be closed.

In Arizona, 600 jobs will be eliminated and 495,000 square feet of facility space will be closed when the company shuts down its Goodyear facility.

And in Horizon City, Texas, Lockheed said it is transitioning the Army Tactical Missile System (ATACMS) operations to Camden, Ark., with 11 employees impacted and 70,000 square feet of facility space removed.

Lockheed said it is reviewing potential sites to transition the MST work, including its facilities in Owego, N.Y. and Orlando, Fla., and expects to finalize plans in early 2014.

Since 2008, Lockheed Martin has removed 1.5 million square feet of facility space and reduced its workforce from 146,000 employees to 116,000, the company said.

Affected employees will receive job placement assistance and severance benefits to assist their transition.

PRESS RELEASE: Lockheed Martin to consolidate facilities

FACT SHEET: Lockheed Martin facility closures