Robert H. Smith School of Business
The Motley Fool

Market Foolery Featured Podcasts

  • MarketFoolery: 09.16.2014
    On today’s show the guys try to figure out what the future may hold for sears, what Microsoft plans to do with Minecraft, and which fall beer is the best.
  • MarketFoolery: 09.15.2014
    We dig into the Fool Mailbag to answer listener questions about GoPro, Vail Resorts and how to balance “buy & hold” with an opportunistic cash balance.  
  • MarketFoolery: 09.11.2014
    RadioShack posts its 10th consecutive quarterly loss, while lululemon athletica rises on better-than-expected quarterly results.  Plus we analyze Kroger’s latest quarter and how retailers balance online sales with in-store sales.
Capital Business
Posted at 12:15 PM ET, 01/08/2013

Lockheed reorganizes, trims corporate office

In one of her first orders of business as chief executive, Marillyn A. Hewson has reorganized Bethesda-based Lockheed Martin’s corporate structure and plans to reduce its staff by about 50.

In a memo sent to employees Monday, Hewson said she is consolidating several corporate functions “to improve collaboration and coordination across the enterprise, increase efficiency, and achieve greater synergy.”

Among the moves she outlined is moving Lockheed’s enterprise business services and corporate internal audit units into its finance and business operations organization. The company’s operations and program management group is to be integrated into its corporate engineering and technology unit to focus the group on “innovation and program performance,” Hewson wrote.

Additionally, Lockheed’s corporate communications and security organization will be combined with human resources for a new team called human resources and communications, while the corporate development unit will become part of corporate strategy and business development, according to Hewson.

A spokeswoman said the company anticipates that about 50 corporate staff jobs will be trimmed.

The move is just one of many changes Lockheed has been making. At the start of the year, the company unveiled a new structure for its business units, moving from four to five by splitting its electronic systems organization in two. In recent years, the company has also made employee cuts in many of its groups, from space systems to aeronautics and among its top executives.

The news was reported earlier by Politico .

By  |  12:15 PM ET, 01/08/2013

 
Read what others are saying
     

    © 2011 The Washington Post Company