Lockheed Martin to trim 1,200 jobs

[ASusilovic]

Lockheed Martin said Wednesday that it will cut 1,200 jobs, or less than 1% of its workforce, in a reoganization of its electronics systems business. Affected employees will be notified by early April. The defense contractor employs about 140,000 people worldwide.

http://www.marketwatch.com/story/lockheed-martin-to-trim-1200-jobs-2010-01-06

Recovery.

 

[hoodooman]

when i worked for them they trimmed me and 5,999 other guys on the same day. Rotten business i got myself into.

 

[tmarket]

..
Recovery.

Or a poorly run company.

Since 1995, Lockheed Martin has been forced to pay a total of $577.2 million for 11 instances of contract fraud, out of a total of 50 instances of various kinds of misconduct (including contract fraud, contractor kickbacks, nuclear safety violations, and others).[13][14]

Since 1997, Lockheed Martin has donated $2,346,300 to both the Republican and Democratic party, and 8 Bush administration policy makers had ties to Lockheed Martin.[15][16] This has led some to accuse it of being involved in revolving door politics, and of being part of the military-industrial complex.[17]

In 2004, it was revealed that Lockheed Martin had employed civilian interrogators at Abu Ghraib, and the Bagram Theater Internment Facility, which linked it to the Bagram torture and prisoner abuse and the Abu Ghraib torture and prisoner abuse scandals

 

[Misthos]

Quote from tmarket:

Or a poorly run company.

That's not poorly run. That's the nature of the defense contractor biz.

 

[nazzdack]

Quote from ASusilovic:
Recovery.

Publicly, they have said they'll cut 1,200 jobs but privately, they'll actually cut 20,000! :eek:

 

[hoodooman]

NAZZ. got a reference for that?

 

[nazzdack]

Quote from hoodooman:
NAZZ. got a reference for that?

1) No.
2) My post was a slight "inside joke" with me and the original poster.

 

[Thermactor]

Quote from NASDAQ:

1) No.
2) My post was a slight "inside joke" with me and the original poster.

Hey, I want in on the insiditude!