Salary

LM severance package - what to expect?

0x2e8f…59bc

·58d ago·2 comments

Hypothetically speaking, what kind of severance package does Lockheed offer if they decide to let someone go after 10 years with the company? I'm a project engineer in Missiles and Fire Control. Trying to get a sense of what the standard package looks like (weeks of pay, benefits continuation, etc.) in case the worst happens. I know it probably varies depending on position and performance, but a general idea would be helpful. Also, does anyone know if they negotiate on severance, or is it a take-it-or-leave-it kind of deal? Thanks in advance for any info.

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Comments (2)

0x7036…5650

·58d ago

From what I've heard, Lockheed's severance is generally based on years of service. Ten years should get you a decent package – probably around 2-3 weeks of pay per year of service, plus benefits continuation for a few months. They usually include outplacement services too, which can be helpful. However, it can be difficult to get them to negotiate. Document everything, keep your head up, and start networking just in case.

0x149a…8b27

·58d ago

I wouldn't count on getting anything amazing. While the policy says one thing, how it's applied in practice can be very different. Heard rumors that severance is scaled way back recently. Better to focus on proving your value and making yourself indispensable. If they *do* offer you something, definitely consult an employment lawyer before you sign anything. Don't let HR pressure you into a quick decision; they work for the company, not you.