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Defense company executives warn of layoffs if cuts go through

A slate of defense industry executives lined up to testify before the House Armed Services Committee Wednesday, telling lawmakers that the automatic budget cuts known as sequestration would be devastating to their businesses and could lead to mass layoffs. The lack of action by Congress, so far, to avert the cuts has led to a "fog of uncertainty" even now, five months away from when sequestration would take effect, the CEO of Lockheed Martin testified.

Tags: budget , industry , DoD , defense industry , Pentagon Solutions , In Depth , Robert Stevens , Lockheed Martin , Pratt & Whitney , David Hess , EADS North America , Williams-Pyro , Sean O

Wednesday - 07/18/2012, 10:06pm EDT
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