(MENAFN) BAE Systems, the British group, announced it is planning to cut 440 managerial jobs at its military aircraft division in a new efficiency drive, Arab News reported.
BAE said that many of the cuts will be at the group's two sites in Lancashire, where 286 jobs will be shed in Samlesbury and Warton, while seven jobs will be cut from the group's overseas sites.
The group has suffered in recent years, with its net profit declining last year due to a reduction in US government spending.
"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," Head of BAE's MAI unit said.
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