From Reuters
"The Pentagon said on Thursday it would expect hundreds of thousands of layoffs across the defense industry if lawmakers did not take action to avert an additional $500 billion in defense budget cuts that could take effect in January 2013.
Frank Kendall, the Defense Department's acting undersecretary for acquisition, technology and logistics, said the cuts would force the Pentagon to break many hard-won contracts with industry, including a multibillion dollar deal with Boeing Co for development of a new refueling plane."
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