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FLORIDA — As many as 200 employees at the Lockheed Martin/Sikorsky facility in Jupiter, Florida could be affected by potential layoffs this summer.The workers union representing the employees -- Teamsters Local 1150 -- said they are doing everything they can to find people new positions within the company.Journalists at WPTV in West Palm Beach, Florida first heard about the likely layoffs from employees who reached out earlier this week and expressed concern about who would be on the chopping block.The layoffs involve workers in the Blackhawk military helicopter program, which shares space at the United Technologies facility off Beeline Highway in Jupiter. There are a total of 500 employees working there.No names or positions of who will be laid off have been finalized."This has been coming for a while," said Rocco Calo, a board member for Teamsters Local 1150 based in Connecticut. Sikorsky is also based in Connecticut.In a phone interview with WPTV on Wednesday, Calo said unfortunately, they're seeing a big downtown in military work for the Blackhawk and Seahawk helicopters they build."In the Florida plant, they were working on Canadian maritime military helicopter program, which is dwindling down now, coming to an end," he said.Sikorsky is also seeing a decline in the number of aircraft the government is requesting to be built. The company operates on a multi-year contract with the government and Calo said with the current contract shows a significantly lower number of aircraft requests than in years past. The union is monitoring negotiations for future contracts."It's starting to look a little better for the out years, but nothing is signed yet. But we some irons in the fire, we're hopeful," said Calo.Sikorsky was bought by Lockheed Martin for billion in 2015, which could also be a contributing factor the changes the Sikorsky is undergoing right now."Naturally when you go through mergers and acquisitions, there are things that can happen with companies. They can either increase in terms of employees or they downsize," said Kelly Smallridge, president and CEO of the Palm Beach County Business Development Board.Her agency monitors and recruits businesses to establish operations in Palm Beach County."While we hate to see any company lay off employees in Palm Beach County, this is the time that other companies will be happily take any kind of skilled worker over to their operations," she said.Smallridge said there are 1,300 aerospace and engineering companies operating in this county alone and the BDB is on stand-by to assist any employees affected by the Sikorsky layoffs."We're ready to help place those employees in other operations. There are 67 corporate headquarters in Palm Beach County, so there's ample business opportunity," she said.Calo said Lockheed is still working on crunching numbers to determine the final number of layoffs. While employees feared the number would push 200, Calo said after factoring in early retirements and relocations for some positions, that number could be much lower."We had a significant number of people sign up for an early out package," he said.Some workers could be offered jobs at other locations in Connecticut and Alabama."I don't think we will be able to offset all of the involuntary stuff. It is a huge downturn in work, but as I said, we're fighting every day," said Calo.On Tuesday, Lockheed Martin released its 2018 first quarter results.The company reported net sales of .6 billion for the first quarter of the year, compared to .2 billion in the first quarter of 2017."Strong operational and program execution in the first quarter allowed us to increase our financial guidance for sales, profit and earnings per share," said Lockheed Martin Chairman, President and CEO Marillyn Hewson, in the news release. "Our team remains dedicated to performing with excellence, offering affordable and innovative solutions for our customers, and delivering exceptional value to our shareholders."Under the Rotary and Missions systems report, which includes Sikorsky, the report states that net sales in the first quarter of 2018 increased million, or three percent, compared to the same period in 2017.However, the report goes on to say, "These increases were partially offset by a decrease of 0 million for Sikorsky helicopter programs due to lower volume for government helicopter programs."Teamsters Local 1150 is planning to hold a meeting with employees to discuss the layoffs this week. The union also represents workers at facilities in Alabama and Connecticut.Union leaders are even driving to Washington, D.C. this week to ask Congress for help.For layoffs of 50 or more people, WARN notices have to be filed with the Florida Department of Economic Opportunity.A search of the 2018 notices shows that Lockheed Martin filed a WARN notice for 82 layoffs at Hurlburt Field Air Force Base in Hurlburt Field, Florida. A notice has not yet been filed for the Jupiter facility. The company is required to give a 90-day notice to the state before laying people off.Lockheed Martin spokesman Paul Jackson released the following statement:  We have not made any announcements but continually review all our business operations to ensure we are properly sized for current and longer-term business requirements and economic conditions within our marketplaces. 5400

Financial fallout from the pandemic is hitting millennials hard — and many will soon turn to their parents for help, if they haven’t already.Before parents ride to the rescue, financial planners urge them to map out a strategy that doesn’t just plug a short-term need but also makes sense in the long run.“Often the heartstrings will get pulled — ‘I really have to help them!’— but it can be detrimental to the parent,” says certified financial planner Jeffrey L. Corliss of Westport, Connecticut.(Of course, financial aid can flow the other way, as many millennials help support their parents. I’m addressing parents here, but most of the advice applies to kids helping their folks as well.)Millennials losing jobs, incomeEven before the pandemic, millennials had lower median incomes, far more debt and a much smaller slice of the nation’s wealth than boomers had at the same age. Millennials — usually defined as those ages 24 to 39 — are more likely than older generations to have lost jobs or household income because of the pandemic, various surveys show.“I’ve already seen clients coming in, worried about their kids,” says CFP Deborah Badillo of Miami. “‘They’re going to lose the house! What can I do to help them?’”Have them explore alternativesEncourage your kids to take full advantage of available financial help before extending yours, Badillo says. They may not know, for example, that unemployment benefits have been dramatically expanded because of the pandemic. Weekly payments are higher and are available to people who normally wouldn’t qualify, including gig workers, the self-employed and people whose hours have been reduced.In addition, there are many more options for people struggling to pay debt. Most mortgages qualify for forbearance programs that allow homeowners to skip payments for up to a year. Hardship programs have been added or expanded by credit card companies and other lenders. Federal student loan payments have been paused until Sept. 30, and income-driven programs can reduce payment amounts after that.Another option is a coronavirus hardship withdrawal, which allows people to tap their IRAs and 401(k)s without penalty if they were physically or financially affected by COVID-19. The withdrawals are taxable, but if the money is paid back within three years those taxes are refundable. Raiding retirement funds isn’t ideal, of course, but your kids have many more years to replenish their retirement savings than you do.Assess your own situationWhile your kids are filing for unemployment and calling their lenders, take a moment to assess your own finances. Where will the cash for your kids come from? It’s one thing to give away money you’ve been saving for a vacation, since you’re unlikely to travel soon anyway. It’s quite another to undermine your own ability to retire or handle a layoff or other setback.Some parents make a conscious decision to operate with a smaller cushion, or to delay their retirements, to help their children, says CFP Lazetta Rainey Braxton in New York. Just keep in mind that you may not get to decide when you retire. Many workers retire earlier than expected, often because of a health problem or job loss. Helping your children now could mean you have to lean on them later, Braxton says. If you’re not sure how this financial aid will impact your future finances, a consultation with a fee-only financial advisor could bring you some clarity.Set some boundariesFinancial planners typically recommend deciding how much to give, and then setting clear boundaries about when the financial help will end. That’s tricky now, of course, because no one knows how long the current economic crisis will last.But parents can still set expectations in other ways, financial planners say. If the child didn’t have an emergency fund, for example, parents can discuss the importance of saving money out of every future paycheck, so the child won’t have to rely on family help again, Braxton says.“Some parents will just put on a Band-Aid and give them money, but they really haven’t helped in terms of their financial capacity,” Braxton says.If an adult child is moving back home, Corliss suggests a written contract outlining chores and responsibilities, such as how soon they’ll be expected to move out after finding a job. A similar end date can be set for any cash the parents hand out. Corliss says the message should be clear: “We expect you to get on your feet as soon as you can.”This article was written by NerdWallet and was originally published by The Associated Press.More From NerdWalletMortgage Relief Programs for Homeowners Hit by the Coronavirus CrisisWhat Is a Credit Card Hardship Program?Cashing Out a 401(k) Due to COVID-19? Consider These Things FirstLiz Weston is a writer at NerdWallet. Email: lweston@nerdwallet.com. Twitter: @lizweston. 4841

Following a hand recount of ballots in Georgia, President-elect Joe Biden maintained a 12,000-vote lead over President Donald Trump. The conclusion of the recount means that Biden is the projected winner of the state and its 16 Electoral College votes, according to the Associated Press. The once Republican stronghold, Georgia went for a Democratic presidential candidate for the first time since 1992. With all 50 states now called, Biden is projected to carry 306 Electoral College votes compared to 232 for Trump.The hand recount of nearly 5 million votes stemmed from an audit required by a new state law and wasn’t in response to any suspected problems with the state’s results or an official recount request. The state has until Friday to certify the results that have been certified and submitted by the counties. The recount added an additional 5,262 ballots that had gone previously uncounted, representing roughly .1% of the overall vote total. In the recount, Trump added a net of 496 votes, coming well short of cutting into Biden's lead.Once the results are certified, the losing campaign can request a recount. 1133

Former Oklahoma football coach Bob Stoops is helping coach the Sooners again because of coronavirus issues. The Sooners had to postpone last Saturday's game against West Virginia and temporarily paused organized team activities due to positive COVID-19 tests and contact tracing throughout the program. The situation affected the assistant coaching ranks, leading Oklahoma coach Lincoln Riley to ask Stoops for help. “It was great,” Riley said during a press conference with media members. “It’s nice. It’s been kind of in our hip pocket this whole time. If we had any staff member that fell off, we’ve got a Hall of Famer sitting on the bench. So that’s a pretty good bench when you can call that guy up.” 714

Former President Barack Obama is expected to report for jury duty in Chicago on Wednesday morning.The former President is expected to appear at Chicago's Daley Center alongside a Secret Service detail, CNN affiliate WLS reports.Several black vans and SUVs were spotted outside his home in the Kenwood neighborhood early Wednesday morning.See the SUV's waiting for the Former President in this video: 407