Lockheed says it has now flowed down $1.1 billion in accelerated progress payments

By Marjorie Censer / June 26, 2020 at 12:58 PM

Lockheed Martin said today it has received more than $1.1 billion in accelerated progress payments from the Pentagon, all of which it has flowed to suppliers.

The company said it has been "giving priority to small and vulnerable suppliers, as we continue our efforts to mitigate COVID-19 risks and promote a healthy defense industrial base."

The contractor also said it has hired more than 8,300 new employees since the COVID-19 crisis began and is seeking to fill more than 3,200 roles.

"The corporation remains on track with plans to hire 12,000 employees during 2020," Lockheed said.

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