FORT WORTH, Texas, May 19, 2020 /PRNewswire/ -- In response to
previously reported COVID-19 F-35 supplier delays, Lockheed Martin
(NYSE: LMT) is taking proactive measures to mitigate impacts and
position the program for the fastest possible recovery by adjusting
work schedules, maintaining specialized employee skillsets, and
accelerating payments to small and vulnerable suppliers, to
continue meeting customer commitments.
Today Lockheed Martin and the International Association of
Machinists and Aerospace Workers (IAM) agreed to a temporary
alternate work schedule for F-35 production line employees in
Fort Worth to maintain their
skilled workforce.
The new schedule, which will begin May
23, divides each shift into three groups. On a rotation,
each group will work for two weeks and then will have a week off.
During the adjusted three-week work schedule, employees who work 96
hours or more will be compensated an additional 24 hours for their
off week while receiving full pay and benefits.
The alternate schedule allows Lockheed Martin to staff the
production line to meet a slower workflow resulting from supplier
delays. In addition, it provides a work rhythm that retains the
expertise of the talented workforce and provides opportunities to
adjust work to better support production.
"These are challenging times, but managing tough challenges is
when the F-35 program performs at its best. The alternate work
schedule maintains the specialized skillset of the employees and
provides opportunities to for us to adjust our workflow to account
for supplier delays due to COVID-19," said Aeronautics Executive
Vice President Michele Evans. "Our
F-35 workforce is the best in the world at what they do, and we
will continue to deliver on our customer's mission."
The temporary alternate work schedule agreement will continue
for its first three-week cycle. The company will then evaluate
business needs and can alter the schedule as needed with the option
to discontinue as warranted or continue until Sept. 4. Lockheed Martin and the IAM have also
agreed to allow employees to volunteer to be furloughed for 30 days
where they maintain their benefits but forgo pay during this
period.
For additional information, visit www.lockheedmartin.com.
About Lockheed Martin
Headquartered in Bethesda, Maryland, Lockheed Martin is a
global security and aerospace company that employs approximately
110,000 people worldwide and is principally engaged in the
research, design, development, manufacture, integration and
sustainment of advanced technology systems, products and
services.
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SOURCE Lockheed Martin Aeronautics