Lockheed Martin puts in place voluntary layoff program

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Lockheed Martin Corp the Pentagon’s No. 1 defence 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, reports Reuters.

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