Lockheed Restructuring to Affect Owego


Lockheed Martin announced some company-wide restructuring Thursday that will affect their facility in Owego.
The company will close their Eagan, Minn. facility by 2013 and move all manufacturing work from its Middle River, Md. site by the end of next year.
Those decisions will eliminate 1,060 positions at the two sites, but approximately 300 of them will be transferred to Owego, according to company spokesman Jeff Brown.
The Joint Light Tactical Vehicle program, which is now based in Owego, will transfer to the company’s Dallas facility next year, a move that will eliminate around 40 jobs in Owego. However, Brown says those people will be offered a chance to transfer with the program to Dallas.
Layoffs and transfers will begin in the first quarter of next year and continue through 2013. Company officials say the changes will save them approximately $150 million over the next 10 years.

Leave a Reply

Your email address will not be published. Required fields are marked *