Here’s What Federal Budget Cuts Mean for Defense Workers

  Google+  Twitter | + More Articles
  • Like on Facebook
  • Share on Google+
  • Share on LinkedIn

If the United States Congress does not find a solution to avoid the mandatory budget cuts before the sequestration delay expires on March 1, the Pentagon will have to resort to decreasing its civilian staff.

Deputy Defense Secretary Ashton Carter told reporters from the Associated Press on Friday that hundreds of thousands of Pentagon civilian employees would face furloughs and reduced paychecks in April. The United States Department of Defense has approximately 800,000 civilian employees currently, and while none of them have been officially notified of the furlough that would cut their workweek by one day, the Pentagon has estimated that it would save $5 billion over the course of the current budget year.

In addition to the furloughs, the Pentagon will also be cutting its entire 46,000-person temporary civilian workforce, a process that has begun already…

Markets are at 5-year highs! Discover the best stocks to own. Click here for our fresh Feature Stock Pick now!

More Articles About:

To contact the reporter on this story: staff.writers@wallstcheatsheet.com To contact the editor responsible for this story: editors@wallstcheatsheet.com

Yahoo Finance, Harvard Business Review, Market Watch, The Wall St. Journal, Financial Times, CNN Money, Fox Business