Company spokesman B.J. Boling said Thursday that layoffs would begin within 30 days. Lockheed Martin's Greenville operation employs about 1,100 workers repairing military aircraft, including the Air Force's C-130 Hercules transport and the Navy's P-3 Orion.
The contract for the P-3 was awarded to L-3 Communications Corp. in Waco, Texas.
Lockheed Martin said laid-off workers will be offered career counseling and resume writing services.
Last year, the company reviewed its Greenville operations after finding wing fittings were improperly installed during maintenance work. Both the company and the military said no crews or planes were in danger as a result of the errors.
Bethesda, Md.-based Lockheed Martin has over 130,000 employees worldwide.