Lockheed Martin Announces New COVID-19 Relief, Charitable Contributions to Strengthen Communities, Supply Chain and Workforce
April 24, 2020
Since the first days of the outbreak, a pledge to protect Lockheed Martin’s workforce while meeting customer commitments has guided the corporation’s COVID-19 response. Today, Lockheed Martin is announcing additional steps to support relief efforts.
Strengthening our Supply Chain
The aerospace and defense supply chain is a critical national asset, and since this crisis began, Lockheed Martin has advanced more than $155 million to small and vulnerable businesses in its supply base. With the recent Department of Defense announcement to increase progress payments, the corporation estimates an additional $450 million in accelerated payments becoming available to the supply chain. As of this week, the corporation will have executed $256 million toward the $450 million accelerated payment goal.
The corporation is taking additional steps to help the supply chain by providing them with resources to sustain their cash flow and operations during these challenging times. Next week Lockheed Martin will begin a series of webinars to ensure small business suppliers have access to resources to protect their operations. Some of these programs will be designed specifically to help veteran-owned and women-owned small businesses understand the options available to them to help their businesses and employees thrive. Suppliers and small business can find more information about resources available to them by visiting: https://www.lockheedmartin.com/en-us/suppliers/news/features/2020/coronavirus.html
Strengthening our Workforce
Since the outbreak of the coronavirus, the corporation has hired more than 1,700 new employees to support essential national security work. Lockheed Martin is committed to continue hiring during the pandemic and is advertising more than 4,000 open positions for technical and non-technical careers.
Over the years, Lockheed Martin has built meaningful and enduring relationships with universities to deliver impactful internship and training opportunities for many college students. As summer approaches, the corporation remains committed to honoring and preserving that proud tradition, while safely providing a rich learning experience for its interns. Where possible, Lockheed Martin is converting internships to a virtual experience for the duration of the summer, while helping support the transition into the workforce in this challenging environment.
Strengthening our Communities
In communities across the nation, Lockheed Martin is leveraging its workforce, products and charitable contributions to strengthen those who need it most. Today, the corporation is increasing those contributions in multiple ways.
Lockheed Martin is increasing charitable contributions by an additional $5 million for an overall pledge of $15 million in charitable giving to COVID-19 relief and recovery efforts, to support state and local communities where the company operates.
The previous $10 million has been allocated to have a direct and immediate impact in the fight against COVID-19. Most recently, $1 million each was directed to the Air Force Aid Society, Army Emergency Relief, and Navy Marine Corps Relief Society to help military service members, veterans, and their families.
Lockheed Martin is also matching employee donations to the American Red Cross, CDC Foundation, and Feeding America who are providing needed resources and support for COVID-19 relief.
With most employees teleworking, Lockheed Martin’s business areas have found creative ways to keep working with their food service providers while helping local communities at the same time. Offices across the country have donated thousands of meals to local nonprofits, hospitals, and other groups.
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.
Please follow @LMNews on Twitter for the latest announcements and news across the corporation.
Jarrod Agen, 301-897-6412, email@example.com
Learn More about how Lockheed Martin is responding to COVID-19