Lockheed Martin plans staff reduction and consolidation

Article Abstract:

Lockheed Martin Corp. is planning to reduce its labor force by 2,000 positions. The company will also consolidate the management levels in its space and military aircraft lines. The plans are part of Lockheed's ongoing restructuring.

Labor force information, Organizational history, Satellite industry

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Lockheed Martin plunges to second-quarter loss

Article Abstract:

Lockheed Martin Corp. posted a decline of $41 million (39.8 million euros) for the second-quarter of 1999. The company has been experiencing difficulties as a result of the ongoing problems in its military aircraft and space businesses. During the same period in 1998, Lockheed Martin posted $289 million in earnings. The company posted a 59% in earnings for the first six months of 1999.

Comment:

Posts decline of $41 million (39.8 million euros) for second-quarter of 1999

Finance

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Lockheed slices profit forecasts; 2 more officials leave

Article Abstract:

Lockheed Martin Corp. is expecting to post $217 million (205.8 million euros) in net income for the third-quarter of 1999. This represents a decline of 32% from the same period in 1998. In addition, Lockheed president and chief operating officer Peter Teets suddenly retired from his post. James A. Blackwell also retired as the head of the company's military aircraft division.

Executive changes & profiles, Appointments, resignations and dismissals, Teets, Peter, Blackwell, James A.

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