NASA officials announced Tuesday that the first flight of its new astronaut ferrying vehicle, Orion, will take place in early 2014. The capsule will not be carrying any astronauts on its initial voyage, however, as the flight is simply a test flight in which the craft will make two highly elliptical orbits of the planet before re-entering the atmosphere and crashing into the ocean.
Lockheed Martin Corp announced Wednesday that it is offering a voluntary separation plan to 6,500 workers in its corporate service departments and at its headquarters. The world's largest defense contractor said workers who accept the buyout will receive a “competitive severance package.” The Bethesda, Maryland-based company added: “Based on the number of volunteers and budget considerations, the company will make a determination on the need for future involuntary reductions.”
Lockheed Martin Corp announced on Friday it will cut about 1,500 jobs as a result to spending cuts made by the Pentagon. The job cuts will come in Lockheed's aeronautics unit, which produces the F-16 fighter jet, C-130 military transport plane, and the F-35 Joint Strike Fighter. Officials said that some salaried workers would be offered voluntary separation packages to minimize the number of layoffs.
Pentagon officials announced this week that they have awarded two contracts to Lockheed Martin Corp. for a reported combined value of $625.2 million. For the first contract, Lockheed's missile and fire control unit in Grand Prairie, Texas will receive $438.2 million for rocket launching equipment, practice rockets, and services.
The world's largest defense contractor, Lockheed Martin, released fourth-quarter results Friday, posting a rise in profit of nearly 20 percent in the quarter thanks to the sale of one of its units and growing revenue in its electronic systems division.