Lockheed Martin layoffs, on the record
Every job cut, severance charge and restructuring Lockheed Martin reported in its annual reports, 2023 to 2025, quoted from the filings. Headcount went from approximately 122,000 to approximately 123,000.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2023 | approximately 122,000 | December 31, 2023 |
| 10-K for 2024 | approximately 121,000 | December 31, 2024 |
| 10-K for 2025 | approximately 123,000 | December 31, 2025 |
Job cuts, severance and restructuring
Our summaryRecorded severance and other charges for a planned reduction of certain positions across the corporation, plus asset impairment charges, after a review of business segments and corporate functions.
Word for word“During the fourth quarter of 2023, we recorded severance and other charges of $92 million ($73 million, or $0.30 per share, after-tax) associated with s everance costs for the planned reduction of certain positions across the corporation and asset impairment charges .” 10-K for 2023
Our summaryRecorded severance and other charges for actions at the RMS business segment, including position reductions and asset impairments, in the fourth quarter of 2022.
Word for word“During the fourth quarter of 2022, we recorded severance and other charges totaling $100 million ($79 million, or $0.31 per share, after-tax) related to actions at our RMS business segment, which include severance costs for reduction of positions and asset impairment charges.” 10-K for 2023
Our summaryRecorded severance charges for workforce reductions and facility exit costs within the RMS business segment to consolidate operations.
Word for word“During 2021, we recognized severance charges totaling $ 36 million ($ 28 million, or $ 0.10 per share, after-tax) related to workforce reductions and facility exit costs within our RMS business segment.” 10-K for 2023
Our summaryRecorded charges for trademark and fixed asset impairments and severance costs tied to the strategic review of the Sikorsky business.
Word for word“During 2024, we recorded charges totaling $ 87 million ($ 69 million, or $ 0.29 per share, after-tax) for trademark and fixed asset impairments as well as severance costs resulting from the strategic review of our Sikorsky business during the second quarter of 2024 due, in part, to the impacts of the U.S. Army announcement to cancel the Future Attack Reconnaissance Aircraft (FARA) program at the conclusion of fiscal year 2024, for which our Sikorsky business was competing.” 10-K for 2024
Our summaryRecorded severance and other charges for a planned reduction of certain positions across the corporation, plus asset impairments, from a review of business segments and corporate functions.
Word for word“During 2023, we recorded severance and other charges of $ 92 million ($ 73 million, or $ 0.30 per share, after-tax) associated with s everance costs for the planned reduction of certain positions across the corporation and asset impairment charges .” 10-K for 2024
| Fiscal year ended | Severance costs | Restructuring charges |
|---|---|---|
| 2016-12-31 | $80 million | — |
| 2017-12-31 | $0 | $0 |
| 2018-12-31 | $96 million | $96 million |
| 2019-12-31 | $0 | $0 |
| 2020-12-31 | $27 million | — |
| 2021-12-31 | $36 million | — |
| 2022-12-31 | $100 million | — |
| 2023-12-31 | $92 million | — |
| 2024-12-31 | $87 million | — |
| 2025-12-31 | $66 million | — |
Lockheed Martin has filed no restructuring notice (Form 8-K, Item 2.05) since 2016. Companies file one only for a cut they judge material, so many announced layoffs never appear as one. This page shows what the company reported to the SEC, not news reports or state layoff notices.
Read from Lockheed Martin’s annual reports (10-K for 2025, 10-K for 2024, 10-K for 2023) and the financial data it files with the SEC, as of 2026-01-29. Every quotation is word for word from the filing linked beside it; how these pages are built and checked. The full record is in its company data sheet.