Statement Regarding Sequestration
BETHESDA, Md. March 1, 2013 – “We are working closely with our customers to understand how sequestration will impact our programs. We know that any significant delay in funding for any production program could threaten the stability of our supply chains, increase costs, prolong delivery schedules and ultimately weaken our national security posture.
Even though sequestration has now taken effect, we will continue to urge our government leaders to reverse this action and establish a more rational fiscal strategy that better addresses our nation’s challenges.
While our industry faces significant challenges, we remain confident that with our broad portfolio of products and technologies, a robust and durable strategy and the industry’s best team, we will continue to meet our customers’ evolving needs and generate value for our shareholders. We’ll await further guidance from our customers, and if warranted, will provide affected employees the full notice period required by the WARN Act for covered layoff activity at the appropriate time.”