Nearly 250 take Lockheed buyout
Lockheed Martin had nearly 250 mid-level managers take a voluntary buyout as it works to adjust its workforce levels.
A voluntary buyout program at Lockheed Martin Corp. has netted nearly 250 mid-level managers who will leave the company.
Federal Times reports that 260 employees applied for the program and 243 were approved for buyouts. The departing managers will leave by March 22.
The company is not planning more layoffs but will continue to evaluate its workforce needs, a spokeswoman told the newspaper.
NEXT STORY: Lockheed's 5-part succession plan