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Business/Financial

Vice Chairman Winnefeld: Contractors Need To Push Costs Down

Defense Daily Staff

Wednesday, February 26th, 2014

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Vice Chairman Winnefeld: Contractors Need To Push Costs Down

Vice Chairman of the Joint Chiefs of Staff Adm. James Winnefeld. Photo: DoD.

Defense contractors will need to become more efficient and push their costs down going forward into the new budgetary environment, Vice Chairman of the Joint Chiefs of Staff Adm. James Winnefeld said Wednesday. “It may mean smaller profit margins, that’s up to industry,” he said at Bloomberg Government’s Defense Symposium in Washington. As compensation for the decline of high dollar contracts, Winnefeld said the Department of Defense was actively guarding funding for research and design with an eye toward future…

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