Lockheed Martin Announces Voluntary Layoff Program

BETHESDA, Md. (AP) -- Lockheed Martin has announced a voluntary layoff program for about 6,500 U.S.-based employees.

The program, announced Tuesday, will be offered to salaried employees in the corporate headquarters and enterprise business services organizations. About 2,000 of those are based in the D.C. area.

The Washington Post says the severance package offers two weeks' pay, another week of pay for each year of service, up to 26 weeks. The employees who accept the package would leave the company in the fall.

Lockheed is the world's largest defense contractor.

(Copyright 2011 by The Associated Press. All Rights Reserved.)