BUSINESS
07/20/2011 07:57 am ET | Updated Sep 19, 2011

Lockheed Martin Puts In Place Voluntary Layoff Program For 6,500

Lockheed Martin Corp (LMT.N), the Pentagon's No. 1 defense supplier by sales, put in place a voluntary layoff program for its corporate headquarters and enterprise business services employees.

About 6,500 U.S.-based salaried employees are eligible for the voluntary program, the company said.

Under the terms of the program, volunteers will be offered a severance package, Lockheed said.

Lockheed currently employs about 126,000 people worldwide.

The company's shares closed at $78.40 on Tuesday on the New York Stock Exchange.

(Reporting by Divya Sharma in Bangalore, editing by Bernard Orr)

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