Defense firms, military ready for cutbacks

12/26/2012 | Politico (Washington, D.C.)

Defense firms and military leaders are preparing for leaner budgets and what industry consultant Loren Thompson calls "a long downward trend." Companies say they may seek mergers or shrink their workforces to survive, and Pentagon officials are bracing for reductions. "I'm going to have to make some really hard calls," said Gen. James Amos, commandant of the Marines.

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