21 May 2020
Posted in Aerospace, Defense & Security
Lockheed Martin adopts schedule and shift changes amongst COVID-19 mitigation measures
Following the news that Lockheed Martin is slowing F-35 production as COVID-19 disrupts its supply chain;
Anthony Endresen, Aerospace and Defense Analyst at GlobalData, a leading data and analytics company, offers his view on the situation;
“Lockheed Martin is adopting several measures to mitigate the delays imposed by COVID-19. These include adjusting work schedules and accelerating payments to small and vulnerable suppliers. The company previously anticipated F-35 production to be 141, however, this has now been revised down to 117.
“The measures being taken do follow the pattern we have been seeing in other companies supply chains where work schedules are adjusted and payments to suppliers are accelerated. Lockheed Martin will also be maintaining specialized employee skillsets.
“Lockheed Martin and the International Association of Machinists and Aerospace Workers 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. These measures are ones we will be expecting to see more widely in the industry during the COVID-19 pandemic.”