More cuts at QinetiQ

Posted on 4 Aug 2010 by The Manufacturer

British defence company QinetiQ has said it plans to shed a further 325 jobs on top of the 391 it recently announced.

The cuts will be suffered at the firm’s facilities in Boscombe Down, Wiltshire; Farnborough, Hampshire; Malvern, Worcestershire.

A company statement released yesterday read: “QinetiQ confirms that it has commenced consultation with its trades unions regarding a proposed reduction of 325 employees in the UK.

“This is in addition to the potential reduction of 391 employees announced on 6 July and follows a detailed review of its UK businesses.”

Leo Quinn, CEO of QinetiQ, said: “In today’s challenging business environment we need to ensure that QinetiQ is focussed on its strengths and is fully aligned with the needs of its customers. Whilst we must reset our cost base in line with demand, we will continue to maintain a full capability for our customers through our unique understanding of the global aerospace, defence and security markets.”

QinetiQ employs a total of 6,500 people in the UK and 13,000 across the group. Last vyear it made a loss of over £65m despite revenues of £1.6bn.