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Lockheed calls for review of sequestration

19th June 2012 - 16:04 GMT | by Andrew White in Washington, DC

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Lockheed Martin Chairman and CEO Bob Stevens has described the 'uncertain' consequences of sequestration as company officials outlined their visions for the next decade in the face of looming defence cuts.

Referring to the 'meat axe' of defence cuts which is scheduled to fall on 3 January, Stevens said the 'near-term horizon was obscured by the fog of uncertainty'.

'In January, defence accounts will be cut by ½ trillion dollars. There is no strategy or concept of operations for our nation that is supported by these reductions,' Stevens continued.

'There is no insight into how this law will be implemented.

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