After Obama guidance, Lockheed won’t issue layoff notices this year
Source: The Hill
After Obama guidance, Lockheed wont issue layoff notices this year
By Jeremy Herb - 10/01/12 11:10 AM ET
Lockheed Martin said Monday it will not issue employee layoff notices this year, ending an election-year showdown with the Obama administration.
The company said it based its decision on new guidance issued Friday by the Office of Management and Budget and the Pentagon.
The guidance said the Pentagon did not anticipate killing any contracts on Jan. 2, the day automatic spending cuts are set to begin hitting defense spending. The guidance also said the federal government would cover severance costs that are mandated under a federal layoff notices law.
The decision by Lockheed means tens of thousands won't get layoff notices days before Election Day, which might have cast a crucial blow against President Obama's reelection chances.
Read more: http://thehill.com/blogs/defcon-hill/industry/259431-lockheed-martin-wont-issue-layoff-notices-this-year
Kindly Refrain
(423 posts)Instead they'll just kill innocent civilians. Nyuck, nyuck, nyuck!
leftyohiolib
(5,917 posts)Bette Noir
(3,581 posts)DavidDvorkin
(19,477 posts)Eons ago, I worked for Martin Marietta, now part of Lockheed Martin, on a NASA contract. I was laid off, along with a lot of my colleagues, even while MM was hiring in other areas. That happens a lot in the aerospace biz.
Ash_F
(5,861 posts)haele
(12,654 posts)Not the current budget sequestration.
I've ridden the contractor pony ride long enough to know that the DoD's "fiscal year" ended last friday, and if Lockheed didn't win a particular contract or re-compete, a particular R&D project ended, or a program was cut from the POM budget last year, that's what caused your friend's layoff.
Been there, done that, collected the UI a couple times for a month or so until hiring for "the next contract" started up.
Haele
DCBob
(24,689 posts)I still think there will be some cuts.. just not as drastic.