News Summary
Lockheed Martin will lay off approximately 180 employees at its Greenville facility due to the U.S. Air Force not extending the F-16 CONUS Depot contract. This contract, valued at $900 million, was supposed to last a decade but will now not continue beyond its initial timeline. The layoffs represent about 10% of the workforce and are part of efforts to align with customer demand. Despite this setback, future production of next-generation F-16s remains promising.
Greenville, South Carolina – Lockheed Martin announced it will lay off approximately 180 employees, representing about 10% of its workforce at the Greenville site. This decision comes in the wake of the U.S. Air Force’s choice not to extend the F-16 CONUS Depot contract, previously awarded to the company.
The F-16 CONUS Depot contract, valued at $900 million, was awarded to Lockheed Martin in 2020 and was intended to span a decade, expiring in 2030. All work related to the contract was designated to be performed at the Greenville facility, which focuses on the production and sustainment of the F-16 Fighting Falcon aircraft, along with various sustainment services for military and civilian aircraft.
According to Lockheed Martin, these layoffs are part of a limited reduction in force aimed at aligning with customer demands for affordability. The company has assured that affected employees will receive outplacement services and career counseling to assist them in their transition.
Background on the F-16 Contract
The F-16 CONUS Depot contract was a significant piece of business for Lockheed Martin, with expectations to bolster the company’s workforce. When the Sustainment Program was announced in 2020, the firm projected the addition of 300 new jobs by the end of 2022, driven by an increased workload. However, with the U.S. Air Force’s recent decision, the outlook has shifted dramatically, leaving a substantial workforce reduction in its wake.
Economic Impact of Lockheed Martin in South Carolina
Lockheed Martin plays a pivotal role in South Carolina’s economy, contributing over $1.3 billion annually and supporting nearly 200 suppliers in the state. The Greenville facility, vital to the local defense industry, produces the F-16A, a single-seat multirole jet fighter, and the F-16B, a two-seat version used for pilot training. The economic ramifications of these layoffs extend beyond the immediate job losses, potentially affecting local businesses reliant on the Lockheed Martin workforce.
Future Projections for the Greenville Facility
Despite the recent layoffs, some industry analysts believe that the long-term outlook for the Greenville site remains positive. There are currently over 100 next-generation F-16s in the production backlog intended for U.S. allies, suggesting continued demand for the site’s capabilities. Legislative representatives from the area have emphasized that the Greenville facility is essential to both South Carolina’s defense sector and the nation’s overall security framework.
Lockheed Martin remains dedicated to the Greenville region, emphasizing its commitment to the area and the ongoing development of its workforce and capabilities. As the company navigates these challenging circumstances, it continues to support military efforts through its various programs and projects.
Deeper Dive: News & Info About This Topic
HERE Resources
Lockheed Martin to Lay Off 10% of Greenville Workforce
Lockheed Martin Announces Layoffs for Greenville Employees
Lockheed Martin Announces 180 Layoffs in Greenville, SC
Lockheed Martin Layoffs Impact 180 Workers in Greenville, SC
Lockheed Martin Reduces Workforce at Greenville Facility
Lockheed Martin Implements Layoffs at Greenville Facility
Additional Resources
- Greenville Online
- South Carolina Daily Gazette
- Fox Carolina
- ABC News 4
- WLTX
- Wikipedia: Lockheed Martin
- Google Search: Lockheed Martin Greenville layoffs
- Google Scholar: Lockheed Martin Greenville
- Encyclopedia Britannica: Lockheed Martin
- Google News: Lockheed Martin layoffs
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