Search This Blog

Wednesday, February 15, 2012

Defence cuts and contract woes hit BAE

BAE SystemsBAE Systems is expected to report lower profits on Thursday amid sharp warnings from analysts and unions that further cuts to the defence budget risk undermining the nation’s skills base.

With the Ministry of Defence planning spending cuts of 8 per cent over the next four years, the UK’s biggest manufacturing employer is reviewing its business including whether to close one of its three historic shipbuilding yards in Glasgow or Portsmouth, threatening 1,500 jobs.

Defence cuts have forced BAE to cut 3,000 staff at its military aircraft operations in the UK. There are fears that more jobs could be lost in the wake of the Indian government’s decision to declare French company Dassault, rather than BAE’s Eurofighter consortium, as the preferred bidder for a £7bn fighter jets deal.

Read more
om

No comments:

Post a Comment

Note: only a member of this blog may post a comment.

Subscribe to: Post Comments (Atom)

Fair Use Notice

This site contains copyrighted material the use of which has not always been specifically authorized by the copyright owner.

The material is being made available in an effort to advance understanding arms trade activities, for non-profit research and educational purposes only.

I believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law.

If you wish to use this copyrighted material for purposes of your own that go beyond 'fair use,' you must obtain permission from the copyright owner.

This is a completely non-commercial site for private personal use. No fee is charged, and no money is made off of the operation of this site.