Print Edition - 2017-10-10  |  Money Digest

BAE Systems to axe 1k UK jobs


Oct 10, 2017-

British military equipment maker BAE Systems will axe more than 1,000 jobs in Britain, or just over one percent of its total workforce, media reported Monday. BAE will cut “well over 1,000” jobs, Sky News reported citing unnamed insiders. Sources added that Brexit was “not a factor” behind the move. The London-listed company has 34,600 staff in Britain and 83,000 worldwide. BAE faces slowing demand for the Eurofighter Typhoon jet, developed with the help of Italy’s Finmeccanica and Airbus as part of a European consortium. “BAE Systems continually reviews its operations to make sure we are performing as effectively and efficiently as possible, delivering our commitments to existing customers and ensuring we are best placed to secure future business,” the firm said in a brief statement issued to media. “If and when there are any changes proposed we are committed to communicating with our employees and their representatives first,” it added. 

Published: 10-10-2017 08:57

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