FORT WORTH, Texas — Aerospace company Lockheed Martin confirmed to WFAA that about 300 aeronautics division employees will be laid off, including about 200 workers from the Fort Worth plant.
The layoffs are reportedly part of a plan to cut 1% of the company’s jobs over the course of this year.
“As part of a yearly review of our business, we are taking proactive steps to improve the efficiency of our operations, meet our customers’ needs for affordability in a cost-competitive environment, and position our business for growth. We are pursuing multiple cost-reduction actions, which include the difficult decision to conduct a very limited reduction in force across all business areas and our enterprise operations,” Lockheed Martin said in a statement.
“To improve efficiencies and position the business to remain cost competitive, we made a difficult decision to reduce a limited number of positions at our Aeronautics operations in Fort Worth, Texas, Marietta, Georgia, and Palmdale, California,” a Lockheed Martin spokesperson said. “We are working with all impacted employees to help them identify other opportunities with Lockheed Martin.”
The Maryland-based global security and aerospace company employs about 122,000 people worldwide, according to their website.
Lockheed Martin is among the largest employers in Tarrant County at 18,700, according to 2023 data on the county’s website.
The announcement of the layoffs comes after Lockheed reportedly forecast 2024 profit below Wall Street expectations amid supply chain disruptions.
WFAA news partner, the Dallas Business Journal, reported earlier this month that Lockheed Martin had signed a lease for 136,135 square feet of industrial space in west Fort Worth.