Three Firms May Stop Work on Army Program
From Bloomberg News
Boeing Co. and two subcontractors may stop development work and lay off employees working on the manned vehicle portion of the Army’s biggest weapons program because it has run out of money, the Army said.
A Boeing order to stop work on the manned armored ground vehicles program would result in BAE Systems and General Dynamics Corp. laying off as many as 1,300 employees unless two congressional committees that oversee the defense budget approve a transfer of $295 million, the Army said.
Two panels, the House and Senate appropriations committees, have approved the funding transfer. The House Armed Services Committee is expected to approve it this week, Army Lt. Col. William Wiggins said.
