MOORESTOWN, NJ-Defense contractor Lockheed Martin, citing a slowdown in government contracts, announced it will be laying off 240 workers at its facility here.
The firm, which also blames increased competition for the layoffs, employs 3,800 workers at its Moorestown facility. The plant works on ballistic missile defense and U.S. Navy and Coast Guard combat systems, according to the Star-Ledger. The facility will still house 3,500 workers after the layoffs are put into effect.
The affected workers are among 587 employees nationwide in the Lockheed Martin's Mission Systems and Training business that will be terminated.
“Reducing our workforce was not a decision we made lightly,” says Keith Little, a Lockheed Martin spokesman. “This action was necessary to address current business realities, including continued uncertain program funding, delays in contract awards and an extremely competitive market.”
New Jersey Gov. Chris Christie praised Lockheed Martin back in March for retaining thousands of jobs at the Moorestown facility, thanks to a $100-million combat missiles contract the company inked with the US Navy. See story in the Star-Ledger.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
