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The Consequences of Shutdown

Beginning October 7th, the Defense contractor, United Technologies Corporation (NYSE:UTX) will furlough 2,000 employees as a result of the government shutdown. The company will halt production on certain defense products because the Defense Contract Management Agency, which inspects those products are considered non-essentials employees of the government and are currently not working. The workers from the company’s Sikorsky Aircraft Unit, which manufactures Black Hawk Helicopters, will bear the brunt of the furloughs.  If the shutdown continues, 2,000 more workers would be furloughed. The combination of Sequestration and government shutdown is hitting defense workers hard.