An estimated 48 Lockheed Martin Space Systems senior executives based in Colorado have applied for buyouts that the defense contractor is offering in a cost-cutting effort.
Lockheed Martin said last week that more than 600 directors and vice presidents — 25 percent of the company’s senior management throughout the nation — asked to participate in the voluntary deal.
Slightly fewer than 300 executives of Lockheed Martin Space Systems — which has facilities in several states but is based in Jefferson County — were eligible for the buyout.
Of those, 120 applied for the program, with 40 percent in Colorado, it was revealed Wed nesday at a Jefferson Economic Council meeting.
Lockheed spokesman Jeffery Adams declined to comment on the specific Colorado number, saying, “We’re not getting into that level of detail.”
The SEC filing stated Lockheed will finalize the buyout list by Oct. 4. Executives will depart by Feb. 1, although some already have left.
The buyout will cost Lockheed Martin $175 million to $200 million, the filing said.
Ann Schrader: 303-954-1967 or aschrader@denverpost.com
