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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 , Lockheed Martin , 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 , Lockheed Martin , Dale Bennett ,

Tuesday - 07/10/2012, 07:53pm 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 , Lockheed Martin , Linda Gooden , Task order contract , Mythbusters , industry-government communication , Jason Miller

Monday - 06/25/2012, 05:13am 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 , Lockheed Martin , sequestration , budget , Chris Kubasik , Congress , Jason Miller

Wednesday - 06/20/2012, 05:35am EDT
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