Defense contractors eye cuts to jobs, plants
from The Washington Times
Defense contractors already are preparing for the layoffs and plant closures that will occur if Congress fails to reach a deal on the federal deficit this year, triggering $600 billion in automatic Pentagon spending cuts. "We are running towards a cliff, all telling each other like lemmings that somehow this isn't going to happen," said Marion C. Blakey, president and CEO of the Aerospace Industries Association. "But the cliff is coming up."
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