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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.

Tags: DoD Report , budget , sequestration , contracting , Northrop Grumman , General Dynamics , Washington Business Journal , Federal Drive

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

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 , Pratt & Whitney , David Hess , EADS North America , Della Williams , Williams-Pyro , Sean O

Wednesday - 07/18/2012, 10:06pm EDT
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Lockheed announces 740 job cuts to D.C.-based unit

Lockheed Martin, one of the world's largest defense contractors, has announced a 5 percent workforce reduction at its Mission Systems and Sensors (MS2)business area. The company said it notified 308 of its U.S.-based employees Tuesday "that they will no longer have employment with the company," according to a release.

Tags: acquisition , industry , contracting , layoffs , budget , Dale Bennett , Robert Stevens

Tuesday - 07/10/2012, 07:53pm EDT

Lockheed machinists OK new labor deal, end strike

Lockheed Martin machinists ended their 10-week strike Thursday, approving a new labor deal that includes a $2,000 bonus and annual pay increases starting at 3 percent the first year.

Tags: Labor , management , industry , contracting , acquisitions , Federal Drive , DoD , DoD Report

Thursday - 06/28/2012, 03:58pm EDT

GSA, DISA face protests of billion dollar awards

CWTSatoTravel objected to the $1.4 billion E- Travel award going to Concur Technologies. SAIC protested DISA's $4.6 billion award for the Global Information Grid management services to Lockheed Martin. Both protestors are the incumbent contractors.

Tags: acquisition , contracting , industry , GSA , DISA , Concur Technologies , E-Travel , CWTSatoTravel , SAIC , GAO , bid protest , Jason Miller

Monday - 06/25/2012, 03:24pm EDT
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Lockheed, machinists reach tentative agreement

Lockheed Martin officials announced late Saturday that after four days of negotiations, the aerospace company reached a tentative agreement with the union that represents 3,600 striking employees.

Tags: labor unions , Machinists Local 776 , DoD , industry , DoD Report , Federal Drive

Monday - 06/25/2012, 09:12am EDT

Lockheed exec gives vendor, government communications high marks

Linda Gooden, the executive vice president of the aerospace and technology giant's information systems and global solutions business area, said agencies are spending more time than ever helping contractors understand their needs. Gooden and Lockheed CEO Robert Stevens' statements are in stark contrast to comments made by a major competitor about the challenges companies face in talking to agencies.

Tags: contracting , industry , Linda Gooden , Robert Stevens , Task order contract , Mythbusters , industry-government communication , Jason Miller

Monday - 06/25/2012, 05:13am EDT
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First quarter mixed for top defense contractors

Three of the top five U.S. defense vendors Northrop Grumman Corp., General Dynamics Corp. and Raytheon Co. had lower sales in the first quarter of 2012, a trend that may continue as the Pentagon cuts its budget, according to a new report from Bloomberg Government.

Tags: Sopen Shah , Bloomberg Government , DoD , Federal Drive , contracting , Boeing , Raytheon , General Dynamics , Northrop Grumman

Wednesday - 05/23/2012, 02:18pm EDT
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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.

Tags: industry , contracting , DoD , sequestration , budget , Robert Stevens , Chris Kubasik , Congress , Jason Miller

Wednesday - 06/20/2012, 05:35am EDT
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National lab seeks cybersecurity research partners

The Cybersecurity Technologies Research Lab's goals include building the scientific foundation for cybersecurity research, developing critical relationships and testing solutions in real-world situations.

Tags: cybersecurity udpate , cybersecurity , Cybersecurity Technologies Research Lab , Sandia National Laboratory ,

Tuesday - 06/19/2012, 08:26am EDT
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