Lockheed Faces Possible Strikes at 2 Plants

Lockheed Martin Corp., the world’s largest defense contractor, faces potential strikes this weekend at two plants after unions rejected separate contracts. The plants are in Palmdale, where Stealth fighter maintenance work is performed, and in Marietta, Ga., where the C-130J cargo plane is produced. The Marietta plant’s 4,300-member Machinists Union notified the company that a strike could come as early as Sunday, a union spokesman said. The Palmdale plant has about 1,840 union members who could strike. The potential strikes come as Lockheed Martin has been struggling from delays in some of its businesses. The Bethesda, Md.-based company said in late December that profit this year and next will be even lower than reduced forecasts made in November. At issue are retirement, overtime and a four-day workweek. Lockheed Martin shares fell $1.13 to close at $36.56 on the New York Stock Exchange.