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History: Vega to Joint Strike Fighter
Allan and Malcolm Loughheed (pronounced "Lockheed"), together with Fred Keeler, founded Lockheed Aircraft in 1926. Lockheed's first plane, the Vega, was a huge success; Amelia Earhart set her records in one. In the 1950s, the company produced the famous U-2 spyplane and submarine-launched ballistic missiles like the Polaris. Until Boeing and McDonnell Douglas merged, Lockheed Martin was the world's largest defense contractor. Some of the company's latest contributions to the world of high-tech defense include the F-16 Falcon fighter jet, the C-130J Hercules transport plane, and the Apache attack helicopter with night-vision. All by themselves F-16 sales to Israel and Greece have totaled $4.5 billion in 1999. Lockheed is currently working on the latest-generation fighter, the F-22, and is competing with Boeing to build the Joint Strike Fighter, which will be the U.S.'s priciest weapons program in the first decade of the new millennium. Consolidation and restructuring Like all defense-related companies, because of shrinking defense spending by the U.S. government, Lockheed has been forced in the 1990s to both downsize its manufacturing operations and acquire and merge with other companies in order to gain the efficiency and scale to remain competitive. The company began making major layoffs in 1995, the same year that it merged with Martin Marietta, a company with a booming aerospace business. In 1996, Lockheed acquired electronics company Loral Corporation for $7.6 billion. And in 1997, the company announced plans to acquire competitor Northrop Grumman for $11.6 billion. The Department of Justice and the Pentagon, however, blocked that deal in 1998. At the same time Lockheed has been on its shopping spree, the company has cut 12,000 jobs. The cuts will result in an eventual $2.6 billion in annual savings. Diversification Lockheed garners more than 80 percent of its revenue from government orders. But this isn't just defense spending. In the past decade, the company has diversified its businesses. For example, Lockheed Martin has an information management subsidiary that specializes in the administration of government programs from welfare-to-work programs to child-support collections. Lockheed is also a leader in space-related technologies. The company helped develop the Hubble Space Telescope and is involved in a joint venture to launch radio and television satellites for a European consortium. In 1999, the company bought 49 percent of COMSTAT, a satellite network for $2.7 billion, and acquired a 30 percent stake in Asia Cellular Service. The company announced in July 2000 plans to sell a group of its defense-electronics businesses to Britain's BAE Systems PLC, which beat out Northrop Grumman Corp. and several other bidders. For Lockheed, the divestiture will help the company lessen its over $11 billion debt; in exchange, the acquisition may push BAE into a leading position in the defense-electronics industry. The $1.67 billion deal includes the Sanders unit, which supplies airborne electronic warfare and countermeasures for military aircrafts. At the same time, Lockheed Martin also announced that its Intergrated Warfare Systems (IWS) Team would team up with Microsoft Federal Systems in the development of the CVN 77, a nuclear-powered aircraft carrier. Spaced out Lockheed's space program took a major hit in September 1999 when they lost a $5 billion reconnaissance satellite contract to Boeing. Worldwide Partners Lockheed Martin has also expanded and established new relationships with technology companies around the globe, with more than 250 partnerships in more than 30 countries.
Job seekers who visit Lockheed Martin's web site, located at www.lmco.com, can search for available positions in each of its various sectors. The web site lists the specific addresses and fax numbers to which applicants should send their resumes. Many positions require a minimum GPA, programming skills, and/or specific coursework in science. Because Lockheed handles contracts for the Department of Defense, positions may require U.S. citizenship and a background check. The site also provides an schedule for the company's on-campus recruiting effort. Insiders report that "the campus interviews are not particularly stressful." It's no pressure cooker for experienced hires either, contacts say. Says one insider, who has interviewed with and worked for several Lockheed divisions: "For the most part, in general compared to other interviews I've had at other companies, Lockheed's were the most stress-free." Techies should be happy to hear that at Lockheed, suits aren't brought in to run the company: "Engineering is definitely the most common path to senior management positions."
All the toys Lockheed employees have "up-to-date equipment" and the "latest technology" at their fingertips. "The work is technically very exciting," says one insider. "We work with the latest technologies, are involved in all phases of projects, and get to participate in some activities which very few people have the privilege to." Adds that contact: "Most of my friends who don't do this type of work tell me they get bored." Varied corporate culture One insider who has worked at various Lockheed locations notes that "there is a vast difference in corporate cultures" from plant to plant. That contact explains that at the company's Missiles & Space Sector location in California, he found that "management had some decent people," while at the Aeronautical Systems plant in Georgia, "it was amazing what percentage of managers were real jerks." Explains another contact: "The company reached its current state through a series of mergers and acquisitions, many of which have only recently been concluded. Therefore, the corporate culture can vary a great deal from one location to another." "I think Lockheed has a very progressive corporate culture for a large aerospace company," says one contact. "I don't think anyone would confuse us with, say, Apple Computer, but we are not a stodgy old engineering company either." Continues that insider: "The company has invested a lot of time and money into identifying things that cause its employees discontent, and making those things better." As for the downside of working for the company, another insider says that "the big headache at Lockheed is that a lot of meetings are about doom and gloom lack of budget." Casual dress Insiders at Lockheed say business casual dress is the norm. "We don't have an official dress code," reports one. "Employees are expected to dress in a manner that is suitable professionally. For professional employees, this typically means slacks or jeans and a shirt or blouse." Another insider explains it a bit differently, saying that "we do have a dress code, but it's just business casual." Reports another contact: "We generally wear business suits or dresses when we expect to be in contact with customers who might be visiting the plan, but that's not mandatory." Go check out the Space Shuttle Lockheed insiders say that "the benefits in general are pretty comprehensive" with "good" medical insurance. The company's savings plan is described as "decent": "Typically for every dollar you save the company, the company puts in 50 or 60 cents, depending on the company." For those that like to travel, Lockheed potentially offers ample opportunity. Explains one longtime employee: "Travel seems to depend on what project you are on and what you are specifically doing. I suppose I've traveled on average about once every two months for a few days." One insider reports that once, "they sent all engineers to Cape Kennedy for a week, and we basically got an inside tour at Kennedy Space Center, poking our heads in the shuttle, and so on." When it comes to vacation policies, Lockheed runs hot and cold. For example, at one location, insiders are upset that they do "not have the Friday after Thanksgiving off." At other locations, such as Sunnyvale and Marietta, not only do employees get that day off, but the company provides "a full week off at Christmas in addition to vacation provided." Another insider in Texas notes that he too receives the week between Christmas and New Year's off. That contact reports that the vacation policy isn't exactly lavish: "New employees get two weeks of vacation per year, then three weeks per year after five years and four weeks after 20 years." However, in some locations, the company is installing a 9-80 plan that allows employees to work nine hours a day and take every other Friday off," expected to be in place in the year 2000. Although some contacts report working a "standard 8-hour day, 40-hour workweek," others say hours can run a bit long. "You need to be willing to work some long hours - 60 to 70 hours a week about half the time," reports one longtime employee. Hours can be fickle, too: "You need to be flexible as our customers frequently make changes due to schedule and cost constraints." Not exactly a melting pot, but fair "We tend to be a predominately white, male organization," admits one insider. However, that contact notes that several senior executives are minorities and women, and reports that "my own impression is that the company makes an effort to live up to its obligation to provide an equal opportunity for all employees." Another contact agrees, reporting that "we have mandatory training each year for things like business ethics, sexual harassment, drugs." And one insider, who says that "Lockheed is very conscientious about giving all employees an equal footing," reports that "many of my supervisors have been women."
Human Resources
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