Defense Contractors Warn Senate Of Budget-Driven Layoffs

Law360, New York (September 11, 2012, 8:32 PM EDT) -- In letters published Monday by Sen. John McCain, the top Republican on the Senate Armed Services Committee, several major defense contractors reiterated their position that the threat of across-the-board budget cuts will force the companies to send layoff warnings to thousands of workers before Election Day.

Contractors have been vocal in their opposition to sequestration, a $1 trillion series of automatic cuts that will take roughly 10 percent from all nonexempt federal defense accounts and 8 percent from all nondefense accounts. Top defense contractors, including Lockheed...
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