Wednesday, April 24, 2013
The Gaithersburg-based information systems unit cut more than 650 employees in the first quarter of the year, The Washington Post reported.
Lockheed Martin's Gaithersburg-based information systems unit has cut its workforce significantly in the first quarter of 2013. About 240 employees left the company through a voluntary layoff program in February and more than 400 employees in the information systems unit were trimmed involuntarily during the same quarter, The Washington Post reported. A Lockheed spokeswoman said 168 of the roughly 650 employees were based in the Washington area, according to the report. Bruce Tanner, Lockheed’s chief financial officer, said the company is not planning for further reductions at this time, according to the report. Lockheed's workforce reductions cost approximately $30 million. Read more on The Washington Post.
Sunday, March 3, 2013
Furloughs and layoffs could be in the tens of thousands in Maryland alone.
Sequestration does not appear to be causing the same level of panic as did the fiscal cliff, or so says a recent Huffington Post piece. However, the 800,000 Department of Defense civil workers that would effectively get a 20 percent pay cut due to a one-day-a-week furlough, according to the Washington Business Journal, may not agree. What about Montgomery County’s 47,000 federal workers, or Prince George’s County’s 70,000 federal workers? The Washington Post identified these civil servants as potentially facing the same fate, or worse. In another Washington Business Journal story, the U.S Army claims that 23,243 jobs in Maryland could be affected by sequestration, pulling in as much as $527 million in “contributions to the economy.” The …
Thursday, February 7, 2013
Lockheed spokeswoman Nettie Johnson said the company expects to reduce its workforce by about 300 to 350 employees, The Washington Post reported.
Looking to shrink its workforce by "about 300 to 350 employees," Lockheed Martin's Gaithersburg-based information systems unit is offering a voluntary layoff program to a select group of mid-level managers, The Washington Post reported. Certain employees within sectors including the transportation solutions and defense businesses are eligible for the program, a memo issued by Lockheed said, according to the report. The Washington Post reports Lockheed said in a statement that the “reduction in force is designed to best position the business to remain competitive and operationally efficient, providing the most affordable solutions to our customers.” Read the full story on The Washington Post.
Friday, January 25, 2013
Former Lockheed Martin CEO will need to plant more than wildflowers, shrubs, grasses and 400 trees to replace the old, tall trees he took down last year on his property along the C&O Canal, the National Park Service says.
Having land doesn't always mean one may change it any way one wishes, especially if the land is part of a scenic easement overseen by the National Park Service. Former Lockheed Martin CEO Robert J. Stevens, who lives on an estate in the Merry-Go-Round Farm community overlooking the Potomac River and the C&O Canal in Potomac, cleared trees from 35,000 square feet of land this past summer, Potomac Patch reported last October. He claimed to have removed the trees for safety reasons after the June 29 derecho, The Washington Post reported in October. In response, Montgomery County officials fined him $1,000 "and pledged to come up with a plan that would force him to reforest the area," The Washington Post reported on Jan. 24. "After months of …
Tuesday, November 13, 2012
Incoming Lockheed Martin CEO resigned last week following an ethics investigation.
Christopher Kubasik, a top Lockheed Martin executive who resigned last week following an ethics investigation, will receive a $3.5 million separation payment,The Washington Post's Capital Business blog reports. The investigation revealed that Kubasik had a “lengthy, close, personal relationship” with a subordinate employee, according to the report. An employee who was not involved in the relationship came forward with the allegations, Lockheed’s CEO Bob Stevens said, according to the Washington Business Journal. Kubasik was set to take Stevens’ place as CEO in January. Kubasik will not receive a separate bonus for 2012, and “will forfeit any unvested stock options, unvested restricted stock units and long-term incentive performance awards …
Monday, November 12, 2012
CEO of Lockheed Martin said the company is "not in crisis" following the ethics-related resignation of a top executive, the Washington Business Journal reports.
Lockheed Martin CEO Bob Stevens revealed more details to reporters surrounding the ethics-related resignation of Christopher Kubasik, who had been the company's vice chairman, president and COO, The Washington Business Journal reports. Kubasik resigned Friday after an investigation conducted by an outside firm found he had a "close personal relationship" with a subordinate employee. He was set to succeed Stevens as CEO of the Bethesda-based defense giant in January. An employee who was not the person involved in the relationship came forward with the allegations in October, Stevens said, according to the Business Journal. Stevens called the employee "quite courageous" and said Lockeed would "not miss a beat" strategically, operationally or…
Recover from super storm. Check. Elect president. Check. Thaw turkey. Already?
Montgomery County dodged the Superstorm Sandy bullet, then sailed through Election Day without major delays or problems. Could Thanksgiving Day run as smoothly? Not likely at this reporter's house. But miracles do happen, especially around these 500 square miles as of late. We won't rehash the election results here. They're available on your favorite Patch site under the "News/Elections" tab. Suffice it to say, Democrats generally dominated and the state made national headlines with its ballot initiatives. We hope you've recovered sufficiently to get on with a long holiday season. If you found yourself distracted last week, there was plenty going on around here other than voting: Incoming Lockheed Martin CEO Resigns in Ethics Scandal On …
Friday, November 9, 2012
Investigation revealed Christopher E. Kubasik, slated to become Lockheed's CEO in January, had a "close personal relationship" with a subordinate employee, Lockheed announced.
The incoming CEO of Bethesda-based defense giant Lockheed Martin resigned Friday after an ethics investigation revealed he had a "close personal relationship" with a subordinate employee, according to news reports. Lockheed Martin announced the resignation of Christopher E. Kubasik, the company's vice-chairman, president and COO. The announcement came the same day that President Obama accepted the resignation of Gen. David Petraeus from his position as director of the Central Intelligence Agency—also reportedly due to personal indiscretions. According to Petraeus' resignation letter, he quit because he had engaged in an extramarital affair, NBC News reported. At Lockheed Martin, Kubasik was slated to become the company's CEO in January. “…