Above: Lockheed Martin display at the Defence and Security Exhibition in London on September 15, 2015. Photo by Ben Pruchnie/Getty Images.
While Making Massive Acquisitions and Record Profits, Lockheed Martin Cuts Jobs
Lockheed Martin, the arms manufacturer behemoth lobbying for corporate tax cuts, has suggested that lower corporate tax rates would allow it to increase its domestic employment, but the company’s financial filings show a decade-long pattern of acquiring companies and then shedding thousands of workers in the aftermath.
A Sikorsky CH-53 military helicopter on June 1, 2016 in Schoenefeld, Germany, at the ILA 2016 Berlin Air Show. Photo by Sean Gallup/Getty Images.
VIDEO: Former Sr. Military Officials Say Tax Reform Isn’t A Priority, Contradicting Lockheed Martin CEO
VIDEO: Lockheed Martin Pushes For Trump Tax Plan In the Name of Job Creation—While Expanding Overseas
Contradicting Lockheed Martin Executive, Former Senior Military Officials Say Tax Reform Isn’t A Priority
While Lockheed Martin’s top executive has helped push the message that President Trump’s proposed tax cuts will spur hiring, a former high-ranking military official now working in a senior capacity at the company could not identify a connection between tax cuts and defense industry job creation.
On October 9, 2017, Lockheed Martin’s Marillyn Hewson appeared on a panel in Washington, D.C., at the Fortune “Most Powerful Women Summit” alongside Ivanka Trump, Deloitte CEO Cathy Engelbert, and co-chair, Most Powerful Women International, Nina Easton. Photo by Paul Morigi/Getty Images for Fortune.
Lockheed Martin Expands Manufacturing Overseas While Pushing Tax Cuts as Job Creators
Lockheed Martin, the world’s largest military contractor, is actively helping President Trump sell tax cuts as job creators, even as its own financial filings show the company is investing in an increasing amount of overseas manufacturing.
A review by TYT of Lockheed Martin’s SEC filings and earnings calls with Wall Street analysts shows no mention of future domestic hiring enabled by prospective tax cuts in its spending plans.
Lockheed Martin Chairwoman, President, and CEO Marillyn Hewson speaks during the USA Science & Engineering Festival in Washington, D.C., on April 15, 2016. Photo by Alex Wong/Getty Images.
