Welcome to today's Defense Business Briefing, your weekly roundup of the latest defense industry news.
The Pentagon intends to roll out this month detailed guidance for reimbursing defense contractors whose employees can’t work because of the COVID-19 pandemic, according to a new memo.
The leaders of both General Dynamics and Northrop Grumman said they are seeing some employees fail to show up for work, but said they expect absentee rates to soon improve.
Pentagon acquisition chief Ellen Lord said that for the first time since the outbreak of COVID-19, more defense companies are re-opening than closing.
Boeing's chief executive said the company has begun cutting employees, seeking to reduce its headcount by about 10%.
KBR said sales in its government solutions business during its most recent quarter totaled $955 million, down 2% from the same three-month period a year earlier.
Oshkosh said sales in its defense segment during the most recent quarter reached $615 million, up 26% from the same three-month period a year earlier.
Mercury Systems said sales in its most recent quarter reached $208 million, up 19% from the same three-month period a year earlier.
Aerojet Rocketdyne said sales in its most recent quarter totaled $476 million, down 3% from the same three-month period a year earlier.
CACI International said the coronavirus crisis cost the company about $10 million in its most recent quarter, primarily related to employees and subcontractors who were unable to access their facilities or telework.
Bell and Textron Systems both reported improved quarterly sales.
ManTech International's chief executive said less than 20% of the company's workforce is facing a situation where they may not be able to work full-time because of coronavirus-related access restrictions.
Aerojet Rocketdyne said it has named Amy Gowder chief operating officer, effective immediately.
Science Applications International Corp. said it has named Gabe Camarillo to lead its naval sea and air systems operations and Josh Jackson to oversee its Navy and Marine Corps information warfare operations, effective immediately.
ASRC Federal said it has named Jennifer Felix president and chief executive.
Primer AI, a San Francisco-based machine learning company, said it has named Sue Gordon a strategic adviser to its board and Brett McGurk as a member of the board.
The week ahead features two Senate Armed Services Committee hearings as well as several virtual appearances by senior defense officials, include the defense secretary.
House Armed Services Committee Chairman Adam Smith (D-WA) said he doesn't think the Defense Department should receive industrial base stimulus money in an upcoming COVID-19 rescue package, but the DOD acquisition chief says the department is planning to ask for billions.
The Pentagon is gaining new insights about risks to its international supply chain due to efforts to monitor and shore up the defense industrial base during the economic downturn caused by COVID-19.