Is D.C. Due for Some Pain? (Washington: how much, unemployed)
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The Washington Post has announced today that Lockheed Martin will be laying off 6,500 employees and that OMB will be closing 60 data centers in the DC area. You figured this had to happen at some point as tax revenues continue to decline from year to year, affecting federal employees and contractors alike. Is the doom that many C-D posters wished for DC finally upon it?
The Washington Post has announced today that Lockheed Martin will be laying off 6,500 employees and that OMB will be closing 60 data centers in the DC area. You figured this had to happen at some point as tax revenues continue to decline from year to year, affecting federal employees and contractors alike. Is the doom that many C-D posters wished for DC finally upon it?
That's interesting. Lookheed Martin basically excusively just makes a lot of military technology and equipment for the U.S. government to buy.
Them shutting down some operations, basically means the government is going to save a ton of money that goes to military expenses.
From my understanding, they pay exceptionally well as well.
That's interesting. Lookheed Martin basically excusively just makes a lot of military technology and equipment for the U.S. government to buy.
Them shutting down some operations, basically means the government is going to save a ton of money that goes to military expenses.
From my understanding, they pay exceptionally well as well.
I've heard different about the pay and the benefits are just basic. The big contractors are just places to work nothing special according to the employees that I know.
I wouldn't go as far as to say that money will be saved. Lockheed Martin probably just lost some major contracts to competitors. I'm learning that losing and winning contracts is just a part of life when you're "Beltway Bandit". When I was unemployed last summer there were so many contracts going on. It was weird at first I couldn't get an interview to save my life then all of sudden everyone has new contracts needing new employees.
This doesn't mean much. They're just closing down data centers that waste tons of electricity. It's more about saving on utility expenses than it is about cutting jobs as many of these data centers are unmanned on a regular basis. hell.. SAIC just got a nice contract extension with DIA and still doing that huge move to Ft. Meade. Still business as usual
I've heard different about the pay and the benefits are just basic. The big contractors are just places to work nothing special according to the employees that I know.
I wouldn't go as far as to say that money will be saved. Lockheed Martin probably just lost some major contracts to competitors. I'm learning that losing and winning contracts is just a part of life when you're "Beltway Bandit". When I was unemployed last summer there were so many contracts going on. It was weird at first I couldn't get an interview to save my life then all of sudden everyone has new contracts needing new employees.
People are getting paid big bucks at these defense contracting companies, but it's usually only those at the top. There are so many layers of management it's ridiculous, so if you're not in that 'good ol boy' network you don't really see it. The CEO is probably making 15mill/yr then he has 4 guys under him who all make like 4mill/yr then they each have 4 or 5 guys that make 1mill/yr, so by the time it trickles down to the people who actually are the company and do the work, they're left with standard pay and little bonuses regardless of how much profit the company brings in each year. These big companies bring in like $100+ million in profit while the employees get crumbs. That's why I'm trying to learn as much as I can, so I can leave this circus as soon as I can
My 2¢ are that we'll likely see a slowdown in the growth of the region as contracts and contracting get slightly scaled back, but I wouldn't hold my breath for any largescale contraction of the DC region or its economy. Tea party bloviating notwithstanding, it's unlikely that either party will significantly scale-back spending or functions to the point that it will have an appreciably negative impact on the regional economy. Just follow the money and watch where it goes--there's a reason that companies like Boeing and Lockheed contribute substantially to both parties.
Also, keep in mind that most of the spending cuts being discussed aren't of the discretionary variety--they're to things like social program benefits, expenditures and the like. It would take massive discretionary cuts, as well as substantial cuts in defense, to really impact this region to the point where people would start being laid off in significant amounts. I just don't see it happening.
Lockheed Martin probably just lost some major contracts to competitors. I'm learning that losing and winning contracts is just a part of life when you're "Beltway Bandit".
Yup. I heard TASC is hiring like crazy right now, so they'll probably pick up a lot of those employees.
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