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DoD: Job losses in Virginia less than expected

At a recent meeting with lawmakers and industry representatives to review the Pentagon\'s cut-cutting measures, Deputy Defense Secretary William Lynn explained ...

Federal News Network Staff

December 22, 2010 9:40 am

< a min read

The Pentagon’s cost cutting will bite into Virginia less than contractors and lawmakers feared. Deputy Defense Secretary William Lynn says cuts would be made to a narrow band of service support contracts. Those contracts are worth about $4.3 billion, to be reduced by 10 percent.

GovExec reports, federal procurement accounts for nearly one-third of Virginia’s economy, and nearly one in five jobs. Lynn outlined the scope of the spending reductions at a Pentagon meeting attended by lawmakers and industry representatives.

This story is part of Federal News Radio’s daily DoD Report. For more defense news, click here.

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