Lockheed 600: Stars or deadwood?
Reaction to the large number of executives leaving Lockheed Martin as part of a buyout program has ranged from ‘good riddance’ to “send me your résumé.”
Lockheed Martin said more than 600 executives, or 25 percent of its executive ranks, have taken a buyout and will be leaving the company. And I blogged that that this could be a rich recruiting pool for other companies and the start of a Lockheed Martin network across the market.
Lockheed opens doors to executive departures
Lockheed prepares for new IT era
Why Lockheed gave up $1.3 billion
First, thanks for the comments that have come in. They have been very interesting and mostly positive about Lockheed Martin’s move but not so positive about the people leaving the company.
M from Reston, Va.: “This is a great idea. … To be honest, I am surprised that a stodgy company like Lockheed would take such a positive and unconventional step.”
Radarman in Florida said, “The areas these execs are coming from are probably in areas that are decreasing in business. Example — Space, Planes. F-35 is transitioning into production, space business is dead,…good move on LMCO’s part.”
He continued: “Happy employees don’t jump at these offers. Deadwood and retired-in-place persons do.”
That sounds harsh, but others supported his comments.
Someone claiming to be a former Lockheed Martin employee said the company could afford to lose another 600 “without any major effects other than the pluses of getting rid of a lot of middle management clutter.”
The former employee said there were directors reporting to directors and vice presidents reporting to vice presidents, “all doing nothing more than perpetuating each others' jobs.”
In my blog, I worked on the assumption that a third, or 200, of the departing execs were dead weight. Several thought I was too kind. “Generously conservative” is how one put it.
But that didn’t discourage Chris Simmons of Washington, D.C., who shared his phone number in an effort to recruit consultants.
Another counterpoint to my blog was my idea that Lockheed Martin could benefit from having a network of former employees at other companies. “On the other hand,” one commenter wrote, “this could result in a cadre of disgruntled ex-employees.”
I would still like to hear from some of the 600. I guess the jobs they get in the coming months will tell their story.
Posted by Nick Wakeman on Sep 10, 2010 at 7:23 PM