By Jennifer Liberto
Defense Secretary Chuck Hagel on Wednesday announced that he's trimming the budget for Pentagon headquarters by 20% starting in 2014, leading to jobs cuts and reduction in contracts with private companies.
The cuts will happen even if Congress ends sequester, according to the defense agency. Hagel said the time is right to "pare back overhead and streamline headquarters," after the fast growth of the agency in the wake of the September 11, 2001 terrorist attacks.
"These reductions are only a first step in DoD's efforts to realign defense spending to meet new fiscal realities and strategic priorities," Hagel said.
The cuts would trim $1 billion from 2014 through 2019. Hagel said the first jobs to be cut will about 200 workers from his own team of 2,400.FULL STORY