Lockheed Martin plans 1% global workforce reduction by 2024 for cost-cutting and digital transformation.

Defence contractor Lockheed Martin announced plans to reduce its workforce by 1% over the course of 2024 as part of a cost-reduction strategy. The job cuts will span across all business and enterprise operations, with the company's cost-cutting initiatives also including hiring freezes and voluntary separations. Lockheed Martin currently employs a global workforce of 122,000, and the cost reductions are intended to facilitate the digital transformation of its operations.

January 26, 2024
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