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Obama Administration to Defense Contractors: No Layoff Notices Until After Election, Please

Bubbalou Wrote: Sep 30, 2012 4:25 PM
the money is already allocated for the contract, so it's wasted money. Then, you have to pay unemployment compensation and potentially legal fees on a broken contract. Come back when you understand how things actually work.

In an effort to make the economy look a little rosier than it is, the Obama administration is basically coercing defense contractors so as to prevent news of layoffs hitting voters before the election. With sequestration about to result in some major cuts to the defense budget, contractors will lose government business -- and that means, employees will lose jobs. But to prevent poor numbers ahead of the November election, the Obama administration has made it very, well, fiscally unwise for companies to issue layoff notices too early.

The Labor Department issued guidance in July saying it...