Lockheed continues to speed payments to suppliers

By Marjorie Censer / April 24, 2020 at 12:55 PM

Lockheed Martin said today it is more than halfway toward its goal of accelerating $450 million in payments to suppliers.

The company said as of this week, it has executed $256 million in payments.

"Next week, Lockheed Martin will begin a series of webinars to ensure small business suppliers have access to resources to protect their operations," the company said. "Some of these programs will be designed specifically to help veteran-owned and women-owned small businesses understand the options available to them to help their businesses and employees thrive."

Additionally, Lockheed said it has hired more than 1,700 new employees since the outbreak of the coronavirus and still has more than 4,000 open positions. The contractor said it is seeking to convert its planned summer internships to virtual experiences.

Lockheed also said it is adding $5 million in charitable contributions to its previously announced $10 million for COVID-19 relief and recovery efforts.

"Most recently, $1 million each was directed to the Air Force Aid Society, Army Emergency Relief, and Navy Marine Corps Relief Society to help military service members, veterans, and their families," the company said.