With the addition of Sikorsky, Lockheed employs more than 126,000 people worldwide. When Lockheed first announced the deal in July, Lockheed Chief Financial Officer Bruce Tanner said job cuts, facility consolidation and the elimination of overlapping costs are possible, according to Hearst Connecticut Media Lockheed said the price of the acquisition was "effectively reduced to approximately $7.1 billion, after taking into account tax benefits resulting from the transaction."  The company said the IRS has classified the transaction as "an asset purchase for tax purposes," resulting in $1.9 billion in savings.