Congressman Duncan Hunter, a member of the House Armed Services Committee, was notified by Lockheed Martin today that the company will reduce its workforce by 740 employees--with 32 layoffs targeting employees in San Diego. The layoffs are a result of growing budget pressures and coinciding business changes. "With the defense budget staring at an additional $500 billion in cuts, growing budget pressures are already forcing tough decisions and workforce reductions within an industry that's critical to American security," said Hunter.
"Even before the sequestration countdown began, the defense budget had already been reduced by $450 billion and the pink slips going to workers in San Diego and throughout the country today are a direct result of these cuts. And these layoffs are a good indicator of what will surely be broader and more severe workforce reductions should sequestration occur.
"Already, businesses are beginning to brace themselves for sequestration and considering ways to minimize the damage. Reducing the defense budget by nearly $1 trillion will not only undercut the size and strength of our military force, but the damage will also extend far into the American workforce, prompting even more layoffs and diminishing production capability. Today's layoffs are a warning--and based on what we are seeing already, there's no arguing the importance of putting a stop to sequestration."