Report: Gaithersburg Lockheed Martin Branch Slashes More Than 650 Employees

Lockheed Martin's Gaithersburg-based information systems unit has cut its workforce significantly in the first quarter of 2013.

About 240 employees left the company through a voluntary layoff program in February and more than 400 employees in the information systems unit were trimmed involuntarily during the same quarter, The Washington Post reported.

A Lockheed spokeswoman said 168 of the roughly 650 employees were based in the Washington area, according to the report.

Bruce Tanner, Lockheed’s chief financial officer, said the company is not planning for further reductions at this time, according to the report. Lockheed's workforce reductions cost approximately $30 million.

Read more on The Washington Post.