BAE Systems to cut up to 642 UK jobs
BAE Systems (LSE: BA.L – news) plans to cut up to 642 jobs at eight sites in Britain as a result of falling demand at one of its units, the defence company said on Thursday.
The sites affected are part of the company’s BAE Systems Insyte unit which supplies radar surveillance, command and information systems, mission training and underwater systems programmes to defence and security customers.
“We have a responsibility to address a reduction in our forecast workload and manage our cost base to remain competitive and meet our customers’ future
“We will work with our employees and their representatives to explore ways of mitigating these potential job losses and we will ensure employees are fully supported throughout this process,” he added in a statement.
In all, 220 jobs could go at a site in Portsmouth while a further 125 job losses are proposed on the nearby Isle of Wight.
BAE Systems employs about 105,000 people around the world.
source: finance.yahoo
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