WASHINGTON: Companies that do business with the federal government will have to announce “hundreds of thousands” of lay-offs just days before the November election, predicted the former Pentagon comptroller for George W. Bush.
As sequestration approaches, said Dov Zakheim, the former comptroller, companies large and small will be faced with layoffs, which by law — specifically the 1988 WARN Act — they must announce 60 days in advance. Sequestration would take effect on January 2nd. “60 days before January 2nd is November 2nd,” said Zakheim. Election Day is November 6. “I wonder how many of our politicians went to face the fact that literally hundreds of thousands of people” — all eligible voters, Zakheim noted — “may have gotten notices [four] days before Election Day.” Keep reading →