Mon, Sep 26, 2011 - Page 11 News List

[ BUSINESS BRIEFS ]

Staff Writer, with Agencies

BAE to cut jobs: reports

British arms manufacturer BAE Systems is to axe up to 3,000 jobs as European governments cut defense budgets, reports said yesterday. The job losses, which could be announced in this week, will focus on the company’s military aircraft division based at two locations in northern England, Britain’s Sunday Telegraph newspaper and Sky News reported.

A trade union described the move by BAE, which employs about 39,000 staff across the country, as a “hammer blow” to Britain’s defense industry. BAE said in a statement that it had “informed staff that we are reviewing our operations across various businesses to make sure the company is performing as effectively and efficiently as possible.”

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