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Shows & Panels
Lockheed Martin will not issue layoff notices — known as Worker Adjustment and Retraining Notification (WARN) notices — if the automatic, across-the-board cuts known as sequestration take effect Jan. 2.
The Defense Department's undersecretary of Defense (Comptroller), Robert Hale, told a House Armed Services Committee hearing last week that Defense officials have only "limited flexibility" to handle the automatic, across-the-board budget cuts, known as sequestration, that go into effect next year.
Robert Hale, the military's CFO, said reductions in force would cost more money than the Defense Department would save. But hiring a freeze and involuntary unpaid furloughs would be likely for civilians.
The across-the-board budget cuts, known as sequestration, set to take effect Jan. 2 would be "deeply destructive" to national security and core civilian agency programs, according to a comprehensive report from the White House detailing the impact of the cuts on specific programs and accounts. The $109 billion in cuts coming next year — split evenly between Defense civilian agency budgets — would slash Defense discretionary spending by 9.4 percent and civilian agency spending by 8.2 percent.
Defense industry executives criticize the impending sequestration, which they say would lead to the loss of more than 1 million defense-related jobs.
Lt. Gen. Jeffrey Talley took over as Chief of the Army Reserve in June. He tells Federal News Radio there are only two issues that keep him up at night.
Michael O'Hanlon, a senior fellow in foreign policy at the Brookings Institution, discussed the Obama administration's revised defense strategy, which indicated a shift toward the Asia Pacific region and the Air-Sea Battle concept of overseas military operations.
Most of the Pentagon's contract spending wouldn't take an immediate hit from sequestration. Conversely, civilian employees would likely be laid-off or furloughed in the few days or weeks after the automatic budget cuts kick in, according to a Washington think tank's analysis of the convoluted laws that govern the automatic cuts
Spending levels appropriated by Congress, so far, for fiscal 2013 fail to live within the limits set by last year's Budget Control Act (BCA), the Office of Management and Budget said in a report issued Monday. If Congress fails to adhere to the annual limits, OMB is required to enact automatic cuts to bring them back into balance, Acting OMB Director Jeffrey Zients wrote in a letter to President Barack Obama that preceded OMB's report.
Coming soon...maybe...to a federal agency near you: Sequestration. Everybody is talking about it and nobody is doing anything about it. Congress set up the Dr. Strangelove-like time bomb to force it to do something...but so far nobody is doing anything but warning about federal furloughs and layoffs that could also devastate the contractor community.....
A trio of Republican senators sounded the alarm over billions of dollars' worth of "catastrophic" and "draconian" military budget cuts set to take effect in January, telling an audience Monday that more time was needed for negotiations.
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.
Army Under Secretary Joseph Westphal said if the automatic spending cuts known as sequestration go into effect, the impact to the Defense Department will be "devastating." At the same time, the DoD still must plan for cuts as tight budget continue and combat operations shrink.
Agencies should not change their spending plans for this year or next, but need to start assessing which programs would be impacted by automatic sequestration cuts if Congress doesn't cancel them, OMB acting Director Jeff Zients told Congress Wednesday.
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.
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.
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.
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.
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.
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.