Lockheed Martin is expected to eliminate as many as 750 jobs, according to various reports. The job cuts are reportedly a result of the federal government’s decision to cancel a contract with the company.
The job losses will be centralized in a Lockheed Martin plant in the state of New York. The plant was responsible for manufacturing the helicopters used by the President of the United States. However, with that contract now canceled, the company will now have to cut the workers.
In total, about 25% of the workers in the New York plant, which is located in the city of Owego, …read more

On Sunday in Paris, France at the Paris Air Show, Lockheed Martin announced that they have begun the critical design review stage of the United States Air Force’s GPS III program. This stage, the company says, will require extensive work over the next year.
In all, Lockheed Martin says it will conduct 70 critical design reviews. To help, the company will partner with General Dynamics of Arizona and ITT of New Jersey.
When the critical design review stage is complete in the fall of 2010, there will be one final review that will make sure that the design of the GPS II …read more

Lockheed Martin got good news on Friday when they were notified by the United States Air Force that they landed a contract worth nearly $1.5 billion. The contract deals with satellite technology.
Following the news of the contract, stock for Lockheed Martin shot north. The latest numbers has Lockheed Martin stock valued at more than $83.60.
The Air Force will use Lockheed Martin’s satellite work to do a number of tasks including the ability to track missiles from hostile locations. The program for this specific satellite is called SBIRS — or Space Based Infrared Systems.
Going by revenue, Lockheed Martin is billed as …read more