You will be redirected to the page you want to view in  seconds.

Lockheed Offers Buyouts to Employees; Layoffs Possible

Feb. 5, 2013 - 01:56PM   |  
  • Filed Under

Lockheed Martin is offering buyouts to midlevel managers in its information systems and global solutions unit, a company spokesman confirmed Tuesday.

An unspecified number of eligible employees have until the end of the month to volunteer for layoffs. If their layoffs are approved by the company, those employees must leave Lockheed by March 22, said spokesman Keith Mordoff.

Mordoff said the voluntary layoffs were not prompted by looming sequestration budget cuts, but Lockheed’s information systems and global solutions unit is assessing the potential impacts of sequestration to its business, programs and customers.

“The reduction in force is designed to best position the business to remain competitive and operationally efficient, providing the most affordable solutions to our customers,” Mordoff said.

Lockheed is looking to reduce its workforce by 300 to 350 employees, he said. It isn’t clear over what time period.

Mordoff would not say how many of the select group of midlevel managers are eligible for buyouts or how many will be selected to receive them. Those selected will receive severance benefits, he said.

Technology career site Dice News first reported the buyouts Monday. Citing an unnamed source, Dice reported that there may be layoffs if enough managers do not leave voluntarily.

In an internal company memo obtained by Dice, unit leaders were told that certain employees working in the areas of defense and national operations are eligible to participate.

More In World News

Start your day with a roundup of top defense news.

More Headlines from North America



Login to This Week's Digital Edition

Subscribe for Print or Digital delivery today!

Exclusive Events Coverage

In-depth news and multimedia coverage of industry trade shows and conferences.



Defensenews TV

  • Sign-up to receive weekly email updates about Vago's guests and the topics they will discuss.