this is the problem with the market. idiots like armagedon with no knowledge of anything making a comment. If you knew anything about the 250 fitness reimbursement, it was for LAST YEAR and you had until the beginning of february to file for it. Please explain how LMT was able to "PROP UP EARNINGS" if the savings would not even be figured yet. Also if you knew anything you would know the healthmiles amount that employees and spouses can earn HAS INCREASED FROM $300 TO $600 a year combined. How is that "propping up earnings"? You have been schooled with real facts and wall street will like it.... idiot
If you work for Lockheed quit now and go find a job that pays as well, gives you flexible work hours, and that oh so valuable $250 gym reimbursement. I'm sure 90% of the companies out there are offering that so leave. Those of us left behind will be better off with one less whining baby in our midst.
Way ahead of you :)
The jobs exist, and fields like software are highly competitive. Most DOD contractors already struggle to attract top software talent because they work on older technologies. That means engineers are knowingly taking a hit on their marketability. The good ones are very conscious of this, and right now there are fewer and fewer chances to reward them and keep them. Cutting back benefits, even as trivial as the fitness reimbursement contribute to a psychological impact. Who wants to work where benefits are continually being cut (fitness, education, pension, health insurance, overtime, merit increases) when they can get a job at google? The answer is people who google wouldn't hire.
It's an indication of short term thinking for quick profit that has rewarded Lockheed executives all these years. The fitness center more than pays for itself in the long run. Right now this short term thinking is paying off but once those who have a vested interest in the company are gone, there are going to be serious problems with hiring and retaining quality employees. Employees have started to watch what they do instead of what they say which further degrades employee loyalty and trust.
The company probably wishes everyone died the first day of their retirement. What incentive is there for the company for you to live and collect a pension for 50 years after retirement. Afterall, isn't the pension a huge burden on earnings that instead could be used to pay more dividends for wall street?
Sentiment: Strong Buy
Talent acquisition, retention, and training at Lockheed is horrible and keeps getting worse. Engineers are in high demand and the "golden handcuffs" of stable work and generous retirement benefits are being eclipsed by steadily eroding benefits, and poorly marketable job skills. The resulting turnover is especially bad when combined with long term projects with continually stretched schedules. None of this matters much when you can just keep billing the customer, but I think the company has long since lost the engineering core for it's future.
This board doesn't know what the hell you're talking about. Lockheed Martin has no obligation to provide you with the fitness center reimbursement. Your fitness is your own responsibility. Programs are being cut, people are being terminated and you're worried about your fitness center.
Sentiment: Strong Buy