403
Sorry!!
Error! We're sorry, but the page you were looking for doesn't exist.
BAE Systems cuts 440 jobs mostly in Britain
(MENAFN- Arab News) LONDON: British defense group BAE Systems announced that it has decided to cut 440 managerial jobs at its military aircraft division in a new efficiency drive.
'We believe that by implementing changes to our management structure we will become a more efficient and effective business and be better placed to meet the needs of current and potential customers in what is an increasingly competitive market' said Chris Boardman head of BAE's Military Air and Information (MAI) unit.
He added: 'We understand that this is a time of uncertainty for our employees and we are committed to working with them and their representatives to explore ways of avoiding and mitigating potential job losses.'
Many of the cuts will be at BAE's two sites in Lancashire northwestern England where 286 jobs will be shed in Samlesbury and Warton. Just seven of the axed jobs are overseas.
The MAI division's programs include the Eurofighter Typhoon and Hawk Trainer jet.
The Eurofighter is built by a consortium which also comprises European plane maker Airbus and Finmeccanica of Italy.
BAE Systems has suffered in recent years on the back of heavy cuts to government defense spending around the world.
The group's net profit slumped last year owing to a huge one-off charge linked to a reduction in US government expenditure.
'We believe that by implementing changes to our management structure we will become a more efficient and effective business and be better placed to meet the needs of current and potential customers in what is an increasingly competitive market' said Chris Boardman head of BAE's Military Air and Information (MAI) unit.
He added: 'We understand that this is a time of uncertainty for our employees and we are committed to working with them and their representatives to explore ways of avoiding and mitigating potential job losses.'
Many of the cuts will be at BAE's two sites in Lancashire northwestern England where 286 jobs will be shed in Samlesbury and Warton. Just seven of the axed jobs are overseas.
The MAI division's programs include the Eurofighter Typhoon and Hawk Trainer jet.
The Eurofighter is built by a consortium which also comprises European plane maker Airbus and Finmeccanica of Italy.
BAE Systems has suffered in recent years on the back of heavy cuts to government defense spending around the world.
The group's net profit slumped last year owing to a huge one-off charge linked to a reduction in US government expenditure.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Comments
No comment