Lockheed Martin will be closing its Newtown Township facility by mid-2015, the company announced Thursday.
The Newtown facility employes 850 people, according to the company. As of press time, LevittownNow.com is aware of several Levittown-area residents that are employed at the facility.
Advertisements
Lockheed Martin, which made $47 billion in sales in 2012, is also closing buildings in Akron, Ohio, Goodyear, AZ, and Horizon City, TX and at a California facility. The company said in a press release that “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.”
The work and select employees from the closing sites will be transferred to campuses in Valley Forge, Colorado, New York and Florida.
“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,” Lockheed Martin CEO Marillyn Hewson said. She also called making the cuts was “among the most difficult decisions we make.”
Advertisements
“Affected employees will receive job placement assistance and severance benefits to assist their transition,” a company press statement said.
Lockheed Martin has been reducing costs and work force since 2008. By 2015, the company will be down more than 3 million square feet of facility space and 30,000 employees.
