Defense restructuring costs down

Defense industry restructuring costs have been less than originally estimated, according to a recent report by the U.S. General Accounting Office - the investigative arm of Congress: $849.3 million through last year rather than the $1.4 billion originally estimated in 1993. The workforce decline over the same period in the restructured companies was also less: 15,000 instead of the estimated 19,000. Commenting on the report, officials of the Aerospace Industries Association noted that savings of

Defense industry restructuring costs have been less than originally estimated, according to a recent report by the U.S. General Accounting Office - the investigative arm of Congress: $849.3 million through last year rather than the $1.4 billion originally estimated in 1993. The workforce decline over the same period in the restructured companies was also less: 15,000 instead of the estimated 19,000. Commenting on the report, officials of the Aerospace Industries Association noted that savings of $1.93 were realized for every $1 of restruc- turing cost. - J.R.

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