Lockheed Martin Moorestown Shedding 240 Jobs

A total of 240 employees at Lockheed Martin's Moorestown facility will lose their jobs this month.

Company-wide, Lockheed Martin is laying off 587 workers from its Mission Systems and Training (MST) division, the company announced Tuesday. Employees were notified last week, and most will be gone by Nov. 20.

Lockheed spokesman Keith Little said the reduction in force "is necessary to address continuing challenges in our business environment, including continued uncertain program funding, delays in contract awards and an extremely competitive market."

The Moorestown facility presently employs about 3,500, according to Little. 

Lockheed cut 154 jobs at the Moorestown plant over the summer.

The company lost out last month on a contract to design and build a next-generation missile defense system, known as the Air and Missile Defense Radar Program, according to the Burlington County Times. Little declined to comment on whether that played a part in Lockheed's cuts.

Reuters reports that Lockheed has filed a formal protest against the U.S. Navy for its decision to award that contract to rival defense contractor Raytheon Company.

Lockheed was awarded a $100 million contract by the Department of Defense earlier this year for the Aegis Combat System Engineering Agent (CSEA), the Navy’s primary system for detecting and intercepting threats to surface ships.