Military Contractors: Dismantling the War Machine

America's cold war victory is just beginning to take a heavy toll on jobs in the defense industry

After months of predictions, the long-awaited peace dividend began arriving last week -- in the form of pink slips for thousands of defense workers. Connecticut-based United Technologies (1991 revenues: $21.2 billion) announced plans to slash nearly 14,000 jobs, or 7% of its work force, with more than half the cuts coming from defense and aerospace programs.

"It's very frightening," says Richard Whitehead, 45, a machinist and layoff victim at the company's Pratt & Whitney jet-engine plant. "When you're told that your job is lost, your feelings just go cold. For my trade," he adds, "there's nothing else out there. I don't...

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