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Defense Contractors Say Hiring Slows Before Budget Cuts

Bloomberg BusinessWeek (07/18/12) Laura Litvan

Defense contractors have already pulled back on hiring in response to across-the-board defense cuts slated for Jan. 2. Robert Stevens, chairman and chief executive of Lockheed Martin Corp., says college students are showing skepticism in their dealings with recruiters about whether they would still have a job next year. If the federal government moves forward with plans to lower defense spending, Stevens says an estimated 10,000 jobs at the company would be eliminated.