If a series of automatic federal budgets cuts were to go into effect through a process known as sequestration, it would drastically alter the business landscape for many of the region’s prominent defense contractors. Here’s a primer on what the companies have said and done so far when it comes to sequestration.
Lockheed MartinThe Bethesda-based contractor had planned to send layoff notices to employees, which it claimed were required under a law known as the WARN Act. It backed off when the federal government gave new guidance. The Office of Management and Budget wrote in a memo that contractors' liability and litigation costs related to WARN would be "allowable costs" covered by the contracting agency.Tami Chappell/Reuters