Lockeed Martin says 600 execs to take buyouts

More than 600 Lockheed Martin Corp. executives — about 25 percent of the aerospace and defense giant's total executive group — have applied for early-exit incentives.

It is unclear how many of the 600 — who are at the director and vice president levels — are based in Colorado.

The executive buyout program, which began in July, will "lower overhead and improve affordability," Lockheed said in a statement announcing how many want to take the early-exit offer.

The statement added the "executive reductions will help align the number of senior leaders with the overall decline" of about 10,000 employees since the beginning of last year.

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