By Stephen Nakrosis 
 

Lockheed Martin Corp. said Tuesday it would temporarily adjust the schedules of F-35 production employees "in response to previously reported Covid-19 F-35 supplier delays."

The company said it reached an agreement with the International Association of Machinists and Aerospace Workers for F-35 production line employees in Fort Worth, Texas. The new schedule will see each shift divided into three groups, each of which will work in a rotation of two weeks on and one week off.

"The alternate schedule allows Lockheed Martin to staff the production line to meet a slower workflow resulting from supplier delays," it said. "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."

Lockheed Martin said the alternate work schedule agreement will continue for its first three-week cycle, after which it will evaluate business needs and alter the schedule if needed.

The company has the option to discontinue the alternate schedule or continue with it until Sept. 4.

Lockheed Martin and the union have also agreed to allow workers to volunteer for 30-day furloughs that will see them forgo pay but continue to be provided benefits.

 

Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

 

(END) Dow Jones Newswires

May 19, 2020 18:38 ET (22:38 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.
Lockheed Martin (NYSE:LMT)
Historical Stock Chart
From Jul 2020 to Aug 2020 Click Here for more Lockheed Martin Charts.
Lockheed Martin (NYSE:LMT)
Historical Stock Chart
From Aug 2019 to Aug 2020 Click Here for more Lockheed Martin Charts.