More than 600 Lockheed Martin execs accept early retirement offer

09/9/2010 | Washington Post, The

More than 600 executives at Lockheed Martin, representing about 25% of the company's executives, have accepted the company's offer of an early exit program offering financial incentives in exchange for resigning. Lockheed Martin has been working to cut its workforce by about 10,000 since the beginning of last year, and the buyouts are seen as part of a larger trend of defense contractors bracing themselves for Pentagon budget cuts.

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