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You are here: Home / Government Contracting News / Lockheed CEO warns of increased government costs from sequestration

June 21, 2012 By AMK

Lockheed CEO warns of increased government costs from sequestration

As federal contractors try to figure out how to brace for the impact of sequestration in January, one thing about the potential $1 trillion in cuts over 10 years is becoming clearer. The government will end up paying more for products and services currently under contract.

Robert Stevens, the retiring-Lockheed Martin CEO, said Tuesday one consequence of sequestration that few have talked much about is vendors will likely ask the government for an “equitable adjustment” to their contracts.

Keep reading this article at: http://www.federalnewsradio.com/394/2911052/Lockheed-CEO-warns-of-increased-government-costs-from-sequestration–

Filed Under: Government Contracting News Tagged With: cost reduction, cost savings, DoD, efficiency, equitable adjustment, sequestration, subcontracting, supply chain

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