Lockheed Martin Aeronautics announces voluntary layoff program

Lockheed Martin on Tuesday announced a voluntary layoff program in its aeronautics business that is meant to cut employment by about 1,000 positions.

The program is available, the company said, to "mid-level employee groups" in Fort Worth, TX; Marietta, GA; Palmdale, CA; Meridian, MS; Clarksburg, WV; Patuxent River, MD; and Edwards Air Force Base, CA.

"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," the company said.

Lockheed has cut its workforce by thousands of jobs over the last five years. In December 2010, the contractor had 132,000 employees; four years later, it had shed 20,000.