Company Offering Early Retirements To Those Over 55

In a effort to trim costs due to the sequester, Bell Helicopter said Wednesday that it would be offering early retirement packages to employees 55 and over. In a message to employees, CEO John Garrison wrote "we are expecting a decrease in military programs in the coming years. Sequestration remains a threat to our business."

The Fort Worth Star-Telegram reports that Bell offered a similar retirement package in 2012. This time around, the deal is being offered to non-union full-time employees with two years or more with the company.

Garrison said in the memo that it is still not clear what impact sequestration might have on the company, but that he is anticipating a "significant reduction in U.S. government spending."

Another company with a major presence in north Texas, Lockheed Martin, began offering lump-sum payments to employees with 25 years of seniority several weeks ago. According to the paper, the two companies combined account for 25,000 jobs in the region.

Bell did not provide additional details about the retirement package.

FMI: www.bellhelicopter.com