Lockheed lays off 130; more cuts likely

[OhioChick]

Source: Pressconnects.com

Company cites halting of Marine One, loss of other orders

May 20, 2009

Lockheed Martin provided layoff notices Tuesday for about 130 of its employees, with more job cuts possible soon.

The company would not give additional information about which positions were affected. Spokesman Troy Scully did say the cuts were "across the business and not limited to any one demographic."

The 130 figure is less than originally expected. The company previously announced a plan to cut about 225 jobs because of program cuts in the proposed defense budget for fiscal 2010. The Owego plant employed roughly 4,000 people before the layoffs, including about 800 who work on the presidential helicopter project.

Lockheed's $13 billion presidential helicopter program was among the programs targeted because of overruns that more than doubled the cost since the company received the contract in 2005.

The Pentagon recently issued a stop-work order on the initiative, which called for 28 production helicopters to replace President Barack Obama's existing, aging fleet.



Read more: http://www.pressconnects.com/article/20090520/BUSINESS/905200424/Lockheed+lays+off+130++more+cuts+likely

[L0oniX]

1. Excuse me if I don't give a fuck if war profiteering corporations go belly up.

[brendan120678]

2. You can not care about the corps., but you should show...

at least a little sympathy for those workers who are laid off.

[L0oniX]

3. There have been over 500,000 people laid off every month. What's another few hundred or even...

a thousand from a company that makes money from war. There's plenty and much more of us poor $20k a year people getting laid off than the rich people who make a lot of money working at companies that make weapons.

[bdab1973]

4. Most of those people aren't rich

They are middle class. Another thing to consider, Lockheed does way more than just make "weapons". They are a major producer of aerospace products, one of the few industries our country still has a leading position. Lockheed makes a lot of subassemblies and parts for civilian aircraft as well.

[L0oniX]

9. Try making 20k a year and see who you think is rich.

[Jennicut]

13. Depends in what part you work.

My husband's step father makes double figures but other people we know there are not above 50 to 60 K. 50 to 60 K is still great but heck we live in CT where EVERYTHING from gas to groceries to mortgages is much much higher then the national average.

[bdab1973]

14. I've been there before...

My very first job out of college was working as a geologist making $21K a year...that was in 1996. I got a "better" job making $27k a year...now I'm in the military and doing fairly well, but I'm quite familiar with living on a tight budget.

[EFerrari]

17. Most of those people aren't rich. Nearly all the dads in my subdivision

worked at Lockheed when we were growing up. None of them was rich although a few of them were engineers.

[L0oniX]

19. IMO if you personally make $50k or more a year in Florida you are rich.

Middle class IMO for Florida is $50k total including spouse income. You are doing good if you make $11 an hour here and that isn't being rich. Rich people can afford health insurance ...I can't ...with a $300 a month and a $5k yearly deductible it is impossible ...and I have no children.

[bdab1973]

20. Then that means that most people in the US are "rich"

by your standards...I'm sorry but making $50,001 a year does not constitute being rich. I make almost twice that and I drive around in an old mini-van and live in an apartment (granted I pay a lot in child support to my ex-wife, but that's another story).

[L0oniX]

23. If I made 50k a year I could save $30000 a year for retirement and that's a fact.

[bdab1973]

25. You aren't realistic

Do you have a spouse? Do you have kids? I have a wife and two step-daughters, plus two kids from a previous marriage. My salary allows us to go to the movies on weekends and stuff, but I don't have money flowing out of my rear end. I drive a 5 year old van (paid off as of now) and my wife drives a Mazda3. Not exactly well-heeled driving. I pay for her to go to school so she can get her RN. We live in a 3 bedroom apartment. How is that rich?

[L0oniX]

28. Richer than me. My van is 10 years old. I have no kids and my wife works too.

We can't afford health insurance and we are about to loose our home insurance because we can't afford it even though our home is paid off. Like I said ...if I made 50k a year I could save $30000 a year.

[RebelOne]

21. $50K in Florida and you are rich?

You must be kidding!! I lived in South Florida most of my life and you would have to earn much than that amount to be considered rich. My daughter is a teacher in South Florida and earns about that, plus her husband is an electrician (recently laid off due to lack of construction) and they are middle class. I live in North Georgia now, where expenses are a lot less. My annual salary is about $42,000 a year and I am far from "rich."

[L0oniX]

22. Most people who make more than me spend more too.

So typical of Americans that when they make more they quickly begin to spend more with bigger homes and more expensive cars ...add a boat and RV ...then end up with little money left over every week because of it. So they are poor too? pffft If people who make 50k a year learned to not scale up the spending when they make more money they'd have plenty ...and much more then me.

[bdab1973]

24. Get real...

I make around $92K a year, I have two kids I support. I own a 2004 minivan and live in an apartment. I don't fly to exotic vacation destinations, own a boat, RV or any of those other things you speak of. I'm doing well to be able to go visit my parents twice a year with my kids. I really don't get where the hell you're getting these ideas from.

[L0oniX]

29. I don't have kids and never will. My van is 10 years old. I can't afford health insurance ...

at $300 a month with a 5k yearly deductible. I am just barely making ends meet at $20k a year. You don't think I could save 25-30k a year if I made 50k a year? Dude ...I can't afford to go see any of my family or a vacation. So compared to you ...I couldn't exist on what I am making ...right?

[brendan120678]

12. Lockheed does much more than just "weapons." n/t

[neverforget]

16. A friend of mine works in the space division designing parts for space exploration

vehicles for NASA.

[Critters2]

26. Don't kid yourself. Space exploration is part of the military.

GPS and other satellite systems, etc, are all about "defense", and paid for by the Pentagon.

[neverforget]

30. And so was the internet.

[Critters2]

27. I feel the same way. nt

[Jennicut]

5. Pratt and Whitney is going to have major layoffs as well. I have some family working there.

So far the departments they are in are okay.
CT is going to be hit hard but we have put off laying people for years just to make things the military did not need.

[bdab1973]

6. P&W doesn't just make stuff for the military

P&W engines are used primarily in civil aircraft...the aerospace industry in general (civil & mil) isn't doing well right now.

[Jennicut]

8. True. My husband's step father is an engineer there and incredibly intelligent.

His specialty is in ergonomics. I looked his name up on Google not too long ago and it came up. He goes to many conferences (even in China) and speaks at them.
My mother in law works in the human resources dept at P&W.
So there are lots of jobs in P&W not totally related to the military.
I think their areas will be okay. My husband's sister just married a great guy and HE works as an engineer there too. So lots of family at P&W.

[L0oniX]

10. Bull shit! My x-wife worked for Excel who tested P&W engine parts that were used for F111's...

so yea they do or did make stuff for the military.

[Jennicut]

11. Its both. They make engines for the military and for civil aircraft.

[bdab1973]

15. Calm down skippy...I said they didn't make stuff exclusively for the military...

I did NOT say they ONLY made civilian stuff. By the way, the PT6 engine is used in the King Air C90, B200 and 300 series civilian aircraft, the Pilatus PC-12 and numerous other civilian aircraft. The JT9 turbofan is used in quite a number of civilian business jets, along with the P&W airliner engine product line. They also make turbine engines for helicopters, both civil and military.

And yes, they make engines for military aircraft as well. But that does not comprise the majority of their business.

[ShortnFiery]

7. but but ... don't they work for us?

:silly:

[high density]

18. Defense spending had to contract eventually

Part of that, unfortunately, is going to be job losses.