Lockheed Martin is not planning to notify its employees of layoffs related to the potential $1 trillion in federal spending cuts due to take effect Jan. 2. The company’s decision is in response to the White House Office of Management and Budget (OMB) telling contractors the government will assume liability for businesses that do not warn employees of layoffs related to massive potential budget cuts known as sequestration. Businesses employing more than 100 workers are required ...
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