Pentagon sees mass layoffs if budget cuts prevail

WASHINGTON (Reuters) - The Pentagon said on Thursday it would expect hundreds of thousands of layoffs across the defense industry if lawmakers did not take action to avert an additional $500 billion in defense budget cuts that could take effect in January 2013.

Source: http://feeds.reuters.com/~r/reuters/topNews/~3/eFiZvqKnNUk/us-congress-pentagon-budget-idUSBRE82S13920120329

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