Lockheed Martin cuts 1,000 jobs in aeronautics division as part of voluntary lay-offs

Lockheed Martin is cutting 1,000 jobs as part of a "voluntary lay-off" plan in its aeronautics business, the company announced.

The aerospace, defence and security technology firm said the voluntary programme was introduced in an effort to stay competitive and align staff with its orders. The job cuts represent around 0.8% of Lockheed's 126,000-strong workforce and will fall in the US.

Lockheed Martin could not give more information about the timing of the lay-offs but it did say more about the location. The job cuts are set to fall in the company's Fort Worth in Texas, Edwards Air Force Base and Palmdale in California, Marietta in Georgia, Meridian in Mississippi, Clarksburg in West Virginia and Patuxent River in Maryland.

The lay-offs come as Lockheed Martin predicted its 2016 full-year earnings to be between $11.45 (£8.05, €10.43) and $11.75 per share, missing market expectations. The company is also dealing with some missed orders and deals from the US Department of Defense.

On 27 February, the US Air Force revealed a multibillion dollar B-21 bomber programme. Seven aerospace and defence companies will team up with main contractor Northrop Grumman. Lockheed Martin missed out on the deal, which is expected to lead to an order of 80 to 100 B-21 bombers from Northrop.

Lockheed Martin launched a protest against the US Air Force for not including the company, but the Government Accountability Office rejected the protest. The GAO said the offer the party made were beneficial for the US Air Force.

The company has long been in talks with the Pentagon over deals with private defence companies. It recently dropped a legal case because it lost a contract for new army trucks for the US Army and Marine Corps to rival OshKosh.