Lockheed Martin Chairman, President and CEO, Marillyn Hewson, as posted the following message regarding the company's response to the coronavirus pandemic.
At Lockheed Martin, we recognize that the rapid spread of COVID-19 and its wide-ranging impacts have caused severe disruption across society and tragic loss of life around the world. We also recognize that the global pandemic has created a need for urgent action by government, business, communities and citizens.
In response to this crisis, our company will be guided by and operate with three clear priorities. First, we will continue to protect the health and safety of our men and women on the job and their families. Second, we will continue to perform and deliver for our customers because what they do for our national security, global communications, and infrastructure is critical to our nation and our allies. Third, we will do our part to use our know-how, resources, and leadership as a company to assist our communities and our country during this period of national crisis.
In this regard, today I am announcing that Lockheed Martin will take the following steps as an initial contribution to the national COVID-19 relief and recovery effort:
We will 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. We will donate $10 million to non-profit organizations involved in COVID-19 related relief and assistance, with emphasis on veterans and military families. We have activated a $6.5 million employee disaster relief fund to assist Lockheed Martin employees and retirees impacted with COVID-19. These are our initial financial steps to help during this time of national need. In addition:
We will offer Lockheed Martin's engineering and technical capabilities to help solve the most pressing challenges faced by federal, state, and local officials. We will donate the use of our corporate aircraft and vehicle fleet for COVID-19 relief logistical support and medical supply delivery. We will donate the use of our facilities for crisis-related activities including critical medical supply storage, distribution, and COVID-19 testing, where needed and practical. Finally, during this time of economic uncertainty, we will continue our planned recruiting and hiring.
Given the requirement for social distancing, Lockheed Martin will deploy virtual technology and other techniques to sustain our hiring activity during this crisis period. 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.
And, 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.
Marillyn Hewson, Chairman, President and CEO, Lockheed Martin Corporation