Harris To Layoff Workers Because Of Sequestration
By SpaceCoastDaily // April 12, 2013
BREVARD COUNTY • MELBOURNE, FLORIDA – Melbourne-based defense contractor Harris Corporation, with a purpose to reduce the company’s expenses, announced yesterday they would reduce its workforce through layoffs.
This action by one of Brevard County’s major employers is to make up for the automatic cuts in government spending that began with sequestration last month.
“Operating under a continuing resolution followed by sequestration and the related indecision surrounding how sequestration budget cuts will be implemented has delayed U.S. Government procurement decisions and reduced spending,” said William M. Brown, president and chief executive officer.
“The uncertainty is unprecedented, and the political budgetary process is progressing slowly. As a result, we are not anticipating a return to typical procurement processes before the end of our fiscal year.”
Harris, which employs more than 15,000 people, didn’t say precisely how many workers would be getting pink slips. The company also indicated that they would close offices and facilities in the face of less than expected performance in Harris’ first quarter revenues, as their stock dipped 6.5 percent.
Harris is an international communications and information technology company serving government and commercial markets in more than 125 countries. Headquartered in Melbourne, Florida, the company has approximately $5.5 billion of annual revenue, and among the approximately 15,000 employees, are 6,000 engineers and scientists.
According to Harris.com the company is, “Dedicated to developing best-in-class assured communications products, systems and services.”
For information about Harris Corporation log on to Harris.com