Skip to comments.Large Defense Company Is Already Threatening Massive Layoffs - If The Fiscal Cliff Hits
Posted on 06/27/2012 6:08:07 PM PDT by blam
Large Defense Company Is Already Threatening Massive Layoffs On January 1 Next Year If The Fiscal Cliff Hits
Jun. 27, 2012, 8:32 PM
Interesting tweet from Erin Burnett (via David Freddoso).
This is kind of a weird way to hear about a layoff announcement, but what's key is that there's an exact date for the cuts Jan 1, 2013 and Buck Mckeon is a Congressman from Southern California who serves on the Armed Forces Committee in the House.
So basically Lockheed is saying in a not-so veiled way is: Stop the mandatory defense spending cuts (that were agreed to as part of last summer's debt ceiling deal) or 12,600 workers get it.
(Excerpt) Read more at businessinsider.com ...
LM is not going to get anything from Washington even if the GOP manages to pull a rabbit out of the hat. Obama doesn’t want to create jobs at LM. He wants to create jobs at Solyndra.
California is going to get hammered from the coming Defense cuts. Windmills and solar panels are not going to take up the slack.
After the election.
The F-35 will be the first thing to go with the cuts, so it makes sense.
I remember massive layoffs at LM in 1992 and 1993. They called it the “Cold War Dividend”.
Once again, get what you voted for. meh.
Oddly enough, the defense industry is the location of the last productive union workers, and many will be among the 12,000.
We have to cut defense spending, but I hope we can keep up research and development, and most procurement. We need to be cutting the size of the troop levels and the number of overseas engagements first.
Boeing is already having layoffs, small ones, one right after another to try to stay under the radar.