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10:26 am, October 1, 2014

Industry Sequestration News

FAA cuts could trigger $20 billion blow to national economy

The Federal Aviation Administration is slated to lose $1 billion from its budget if Congress does not act to prevent sequestration, according to a study released by the Aerospace Industries Association. But the cuts would ripple throughout the nation's economy. About 100,000 jobs throughout the economy would be lost.

Monday - 08/13/2012, 10:54pm EDT
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Analysis: Defense contractors already reducing workforce

The Project on Government Oversight reviewed the size of five of the largest defense contractors and found three of the five were reducing their workforces even as the Defense Department's procurement budget ballooned between 2006 and 2011.

Thursday - 08/09/2012, 12:44pm EDT

After cuts, defense contractors report record operating margins

With a tighter defense budget and the threat of sequestration, defense contractors say they may have to lay off thousands of workers and look for business overseas.

Tuesday - 07/31/2012, 07:33am EDT

Small contractors could be hit hardest under planned Defense spending cuts

Small and medium-sized contractors and suppliers receive 75 percent of appropriated dollars for defense or military programs. But these small businesses, who lack the lobbying power of top- tier defense contractors, may suffer more from sequestration than big companies.

Monday - 07/30/2012, 09:19pm EDT
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Labor Dept. says defense layoffs 'speculative,' no need for warning

Defense industry executives have spent the last few weeks warning that across-the-board budgets cuts that go into effect in January, could force them to issue notifications to employees in the fall to warn of impending layoffs. However, in a new memo issued Monday, the Labor Department said the lack of clarity about how the cuts would be applied means it would be "inappropriate" to issue Worker Adjustment and Retraining Notification (WARN) Act notifications.

Monday - 07/30/2012, 09:11pm EDT

Senators quiz defense companies on sequestration

Letter, sent to 15 large vendors, asks for estimated impacts of sequestration on defense contractors.

Friday - 07/06/2012, 11:55am EDT

Lockheed CEO warns of increased government costs from sequestration

The largest federal contractor is struggling to prepare for about $1 trillion in cuts that are due to take effect in January. Retiring-CEO Robert Stevens said agencies will ask vendors to modify contracts and that in turn will drive up the costs of those programs. Lockheed Martin already is taking steps to reduce its spending by consolidating facilities and reducing staff.

Wednesday - 06/20/2012, 05:35am EDT
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Analysis: Sequestration would drive contractors over 'fiscal cliff'

Defense contractors are growing increasingly worried about the automatic, across-the-board budget cuts, known as sequestration, which are set to take effect in January. Marion Blakey, the president and CEO of the Aerospace Industries Association, said the cuts would hit the defense industry particularly hard.

Monday - 06/18/2012, 09:59pm EDT
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Vendors start to see contracts slowing down with sequestration looming

Contractors warn of possible layoffs due to potential budget cuts. Some companies are in waiting mode to see what happens with Congress over the next six months.

Friday - 06/15/2012, 05:56am EDT
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September Defense spending spree takes on new urgency

The Office of Management and Budget estimates that $83.5 billion in previous years' Department of Defense funds will remain unobligated on Sept. 30, the end of fiscal 2012, reports Kevin Brancato and Robert Levinson of Bloomberg Government.

Wednesday - 06/06/2012, 09:08am EDT
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Top issues affecting contractors

Professional Services Council President and CEO Stan Soloway will talk contracting with host Mark Amtower.
May 7, 2012

Monday - 05/07/2012, 08:37pm EDT
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Sequestration may hit defense industry harder than troops

Sequestration would kill hundreds of thousands of defense industry jobs, the Pentagon warns. Frank Kendall told senators during his nomination hearing to be the DoD acquisition chief that personnel accounts would be shielded so lower-tiered contractors would feel the brunt of cuts.

Friday - 03/30/2012, 05:33am EDT
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