Lockheed Martin’s Aeronautics Business Announces Voluntary Layoff Program

Fort Worth, Texas, March 8, 2016 – Lockheed Martin’s (NYSE: LMT) Aeronautics business area announced a voluntary layoff program that is targeted to reduce employment by approximately 1,000 positions at locations in the United States.

The voluntary program is available to mid-level employee groups in Fort Worth, Texas; Marietta, Georgia; Palmdale, California; Meridian, Mississippi; Clarksburg, West Virginia; Patuxent River, Maryland; and Edwards Air Force Base, California.

The action is necessary to position Lockheed Martin Aeronautics to be competitive in the future marketplace, secure future business opportunities, and keep an infrastructure appropriately aligned with customer demands.

About Lockheed Martin

Headquartered in Bethesda, Maryland, Lockheed Martin is a global security and aerospace company that - with the addition of Sikorsky - employs approximately 126,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services.