COMPANIES

Nearly 250 take Lockheed buyout

Mid-level managers must leave by March 22

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.

Reader Comments

Thu, Mar 21, 2013

I'm not sure why this is being reported as a reduction in middle managers. These were mid-level employees, not all managers.

Wed, Mar 20, 2013

How many were RIFed?

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