BAE Systems To Cut 1400 Staff

BAE Systems is having to lose 1400 staff to cut costs as a result of the government spending review. Defence spending has been reduced by around 8% in an attempt to lower Britain’s national debt.

Nimrod and Harrier

Nimrods and Harriers are no longer going to be produced. This is likely to lead the to the early closure of the Nimrod base in Woodford. However, most job losses are likely to be spread across the UK, although it looks like Lancashire is going to hit hardest with many losses in Samlesbury and Warton.

New Projects at BAE Systems

However, it is not all bad news for BAE Systems. BAE have announced a partnership with Newscastle University to start developing new high-end maritime technology.

BAE Systems Stock Quotes and Latest Financials

http://www.google.co.uk/finance?client=ob&q=LON:BA

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