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U.S. Navy dings Lockheed on Its littoral ship quality controls
Lockheed Martin Corp. is under orders from the U.S. Navy to correct quality control failures in building its version of the Littoral Combat Ship, an issue that has delayed deliveries and resulted in three citations from the service’s shipbuilding inspectors. The Navy’s supervisor of shipbuilding issued “Corrective Action Requests” in May, June and July of […]
Md. appellate court throws out $830K verdict for former Lockheed employee
The state’s intermediate appellate court has overturned an $830,000 jury verdict awarded to a former Lockheed Martin employee who sued the company for retaliation, alleging he was fired because he had complained about a poor performance review. The Court of Special Appeals found that Vincent Balderrama, who was one of 600 employees let go by […]
Lockheed Martin reopens Middle River production line
Bethesda-based Lockheed Martin announced the reopening of a production line at its Middle River facility on Thursday. As part of a $235.3 million contract with the U.S. Navy, Lockheed will be manufacturing an MK 41 Vertical Launching System, a missile launcher. At a ribbon cutting at the facility, Lockheed officials, along with a handful of […]
Lockheed Martin wants to lay off up to 1,000 aeronautics workers
Lockheed Martin Corp. says its aeronautics division is seeking to part with up to 1,000 workers as it works to stay competitive and keep its staff aligned with orders. The company is offering the voluntary program to mid-level employees in seven locations: Fort Worth, Texas; Marietta, Georgia; Palmdale, California; Meridian, Mississippi; Clarksburg, West Virginia; Patuxent […]
Lockheed Martin’s drone faulted in weapons-test report
The U.S. Navy’s new Littoral Combat Ship would be ineffective at hunting for mines because an underwater drone made by Lockheed Martin Corp. that’s supposed to find them doesn’t always work, the Pentagon’s weapons-testing office found. While mine-hunting is intended to be the primary combat mission of the ship, the drones required to detect underwater […]
Lockheed said to plan $7B bond sale for Sikorsky deal
Lockheed Martin Corp. is planning to sell $7 billion in bonds as soon as Monday to help pay for its $9 billion takeover of helicopter maker Sikorsky. The largest global defense company may issue the debt in as many as six parts and use the funds to repay borrowings under a $6 billion 364-day credit […]
Appeals court sides with Lockheed in contract dispute
When a jury awarded a small software company a $24.8 million judgment against weapons giant Lockheed Martin in 2013, it seemed like a massive victory for every small business that had ever wanted to stand up to its behemoth competitors. But when Lockheed appealed the case in trial court, the judge overturned the jury’s decision […]
Lockheed Martin named to the 2015 Dow Jones Sustainability World Index
Lockheed Martin has been named to the Dow Jones Sustainability World Index for 2015 for a second consecutive year, the company announced today. The 2015 Index represents the top 10 percent of the largest 2,500 companies in the S&P Global Broad Market Index based on long-term environmental, social and economic criteria. The index, started in […]
Lockheed Martin to shed jobs from its IT services business
Bethesda-based Lockheed Martin Corp. on Wednesday announced that it would employ roughly 500 fewer people in its information systems and global solutions segment by November. The company said in a statement that the change is in response to shifting government priorities, changing industry dynamics and efforts to improve the segment’s competitiveness. Lockheed Martin announced in […]
United Technologies says Sikorsky faces criminal probe
United Technologies Corp. said a federal criminal probe is under way into allegations that the Sikorsky helicopter unit and two subsidiaries overbilled the U.S. government for years in connection with a 2006 Navy contract.
5 things to know about Lockheed Martin’s acquisition of Sikorsky
Lockheed Martin will acquire helicopter manufacturer Sikorsky Aircraft for $9 billion, the Bethesda-based military contractor announced Monday. United Technology Corp. said last month that it planned to sell Sikorsky to help simplify its eclectic mix of businesses. Industry competitors Boeing, Textron and Airbus had been rumored as possible buyers, but Lockheed Martin produced the winning [&hellip[...]
Lockheed Martin employee files $300K discrimination lawsuit
A nurse attorney for Lockheed Martin has filed a $300,000 race and sex discrimination lawsuit against the company, claiming she was harassed by her supervisor about her status as a single mother, forced to reduce her hours and then retaliated against when she complained. Andrea French has worked for the Bethesda-based company in an office […]
