At White House Request, Lockheed Martin Drops Plan to Issue Layoff Notices

Defense contractor Lockheed Martin heeded a request from the White House today — one with political overtones — and announced it will not issue layoff notices to thousands of employees just days before the November presidential election.

Lockheed, one of the biggest employers in the key battleground state of Virginia, previously warned it would have to issue notices to employees, required by law, due to looming defense cuts set to begin to take effect after Jan. 2 because of the failure of the  Joint Select Committee on Deficit Reduction — the  so-called Super-committee, which was created to find a way to cut $1.5 trillion from the federal deficit over the next decade.

Such massive layoffs could have threatened Obama’s standing in the state he won in 2008 and is hoping to carry again this November.

http://abcnews.go.com/blogs/politics/2012/10/at-white-house-request-lockheed-martin-drops-plan-to-issue-layoff-notices/

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