|    FM Home   |    FM News   |    FM Forum   |    FM Blog   |   
30th of December 2010
|    Banking  |   Insurance  |   Property  |   Mortgages  |   Economy  |   Investments  |   Credit Cards  |   Debt  |   Loans  |   Pensions  |   Companies  |  
September 15, 2009    

BAE Systems to close factory and axe 1,116 jobs

Bookmark and Share

by Kay Murchie
”BAE

Defence giant BAE Systems is to reduce its workforce and close one of its sites in Woodford, Cheshire. However the job losses will also affect a number of its other sites.

The Confederation of Shipbuilding and Engineering Unions (CSEU) described the news as “bitterly disappointing”.

The union’s general secretary, Hugh Scullion, said: “The CSEU will work constructively with the company to keep redundancies to a minimum and ensure no compulsory redundancies.”

According to the firm, the Woodford site is scheduled to close at the end of 2012, with the loss of 630 jobs.

A further 205 jobs are to go at its Samlesbury site, and 170 at its Warton facility (both in Lancashire). Furthermore, 111 jobs are set to go in Farnborough.

In a statement, the company said: “It has been clear since 2003 that the Woodford site had little future beyond the end of the Nimrod MRA4 production, and the workforce has been kept informed since that time.”

The Woodford site built over 4,000 Lancaster bombers during the Second World War and the delta-wing Vulcan bomber in the 1950s.

Its latest round of job cuts come just five months after the group said it was eliminating 500 positions and closing sites in Telford, Leeds and Guildford.

The news comes on the same day as Japan Airlines announced plans to cut its operating schedule and reduce headcount by almost 7,000.

Discuss this in the Finance Markets forums

Story link: BAE Systems to close factory and axe 1,116 jobs



Financial Services:





Related financial stories to: BAE Systems to close factory and axe 1,116 jobs:
Previous: «
Next: »

Visited 1052 times, 1 so far today

No Comments »

No comments yet.

RSS feed for comments on this post.

Leave a comment

Tags: BAE Systems, closure, factory, , , , Woodford