Lockheed Martin early buyout attracts 600

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About 600 top executives with Lockheed Martin Corp. have accepted the company’s early buyout program offer.

Those qualifying must leave the company by Feb. 1.

Their departure represents about 25 percent of Bethesda, Md.-based Lockheed’s total number of executive level employees.

Lockheed did not break down numbers by division or location. Approximately 2,000 people work for the company in El Paso County and close to 10,000 are employed statewide.

There was also no word this week whether any executives with Lockheed Martin Space Systems Co., the Littleton-based division of the company or its related Colorado Springs operation, took the buyout offer.

The Denver Business Journal reported yesterday that since 2009, Lockheed has cut 10,000 jobs worldwide and eliminated other expenses, including a significant reduction in trade show participation and advertising.

Lockheed Martin currently has about 136,000 workers and $44.5 billion in annual revenue.

Company CEO Bob Stevens said the voluntary retirement program would enable it to “achieve significant cost savings and a leaner management structure” as its customers demand more affordable solutions to global security challenges.