Lockheed says it accelerated millions more in cash to suppliers in August

Lockheed Martin said today it is continuing to accelerate cash to suppliers to help them cope with the ongoing coronavirus pandemic.

In August, the company said, it accelerated $300 million to $500 million per week in payments “with a focus on small businesses and at-risk suppliers.”

Since March, Lockheed added, it has directed payments to more than 7,900 suppliers, including more than 4,800 small businesses.

“Lockheed Martin continues to assess COVID-19 impacts, working with our U.S. Government partners and suppliers, and will accelerate cash to at-risk suppliers and small businesses through the end of the year to ensure we continue to meet commitments vital to national security,” the company said.

Lockheed also announced it has met its 2020 goal to hire more than 12,000 new employees.