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Lockheed Martin Anticipates Furloughing Employees

Defense Daily Staff Defense Daily Staff
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Defense giant Lockheed Martin [LMT] said Friday it expects that the automatic budget cuts that took effect earlier this month known as sequestration will at least result in furloughing employees and could have a more severe impact on thousands of jobs. In addition to issuing furloughs, Lockheed Martin said it may have to lay off workers or issue 60-day notifications of possible layoffs under a federal law known as the Worker Adjustment and Retraining Notification Act, or WARN. “We continue…

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