Lockheed Martin (NYSE: LMT) announced on Friday new company guidance regulations due to the rapid spread of COVID-19 and its major societal impacts.
“Lockheed Martin understands that the shared effort to combat COVID-19 and recover from its effects will be a long-term one. We will continue to engage national, state, and local leaders to undertake additional measures as needed,” said Marillyn Hewson, chairman, CEO and president of Lockheed.
In response to this crisis, Lockheed released a new guidance plan with three clear priorities. First, The company will continue to protect the health and safety of its employees. Second, Lockheed Martin will perform and deliver national security, global communications, and infrastructure initiatives. The company will utilize its know-how, resources and leadership as a company to assist our communities and our country during this period of national crisis.
Lockheed will also advance more than $50 million to small- and medium-sized business partners in our supply chain to ensure they have the financial means to continue to operate, sustain jobs and support the economy.
The company will donate $10 million to non-profit organizations involved in COVID-19 related relief and assistance, with emphasis on veterans and military families. Lockheed has activated a $6.5 million employee disaster relief fund to assist Lockheed employees and retirees impacted with COVID-19.
The initial financial steps will help during the time of national need. In addition, Lockheed will offer engineering and technical capabilities to help solve the challenges faced by federal, state and local officials.
Finally, during the economic uncertainty, Lockheed will continue our planned recruiting and hiring. Given the requirement for social distancing, the company will deploy virtual technology and other techniques to sustain our hiring activity during this crisis period.
“Throughout this crisis, Lockheed Martin remains committed to continuing to deliver critical capabilities for our nation and our allies, supporting job creation and economic recovery, and helping those in need wherever we operate,” added Hewson, a 2020 Wash100 awardee.
