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Quarter of Lockheed Martin’s Execs Apply For Voluntary Separation Program

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By Calvin Biesecker Lockheed Martin [LMT] yesterday said that just over 600 of its executives, or about 25 percent of its total executive population, applied to receive financial incentives in return for voluntarily departing the company as the defense contractor moves to slash costs. Lockheed Martin didn't say how much it expects to save through its Voluntary Executive Separation Program (VESP) other than to say it will result in "substantial savings" in 2011 and on a recurring basis in 2012…

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