BAE Systems Cutting Nearly 3,000 UK Jobs

Eurofighter

Wikimedia Commons

BAE Systems, Europe’s biggest arms manufacturer, has announced it is cutting almost 3,000 jobs in the UK, reports Reuters.BAE says that the job cuts are coming after major military spenders in Europe, such as the UK, Germany, Italy and Spain, cut their orders for Eurofighter Typhoon programme. Production is also slowing on the  F-35 Joint Strike Fighter jet, a U.S. program led by Lockheed Martin for which BAE produces the tailplane.

The Lancashire Evening Post spoke to distraught staff members at factories in in the region.

“This government has cut back so much on defence, we haven’t got anywhere left to go, something had to give,” one said.

900 jobs will go at another location in Brough, ending a tradition of plane-making in the region, reports Bloomberg.

Jason Adams, an analyst at Nomura International, said “The defence industry is in a state of excess capacity, and I’d expect further consolidation and restructuring.”

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