Regulations and Government
Lockheed Martin Chief Speaks Out against Sequestration
Lockheed Martin CEO Bob Stevens said government spending cuts threatened by sequestration will force the company to modify its contracts with suppliers, leading to untold consequences. (Photo: Lockheed Martin)
Lockheed Martin CEO Bob Stevens said government spending cuts threatened by sequestration will force the company to modify its contracts with suppliers, leading to untold consequences. (Photo: Lockheed Martin)

Contracts with suppliers would have to be modified with untold cost consequences, if automatic U.S. government budget reductions through sequestration become a reality in January, according to Lockheed Martin chairman and CEO Bob Stevens. That could affect anywhere up to 40,000 suppliers in the case of Lockheed Martin, a $46 billion civil, government and defense contractor.