Defence firm Qinetiq plans 391 job cuts
DEFENCE firm Qinetiq has announced plans to cut 391 jobs across the country, blaming the current “challenging business environment”.
The firm, which has around 6,500 UK staff, said it would cut about 130 jobs in Farnborough, Hampshire, and a further 230 may be axed in Malvern, Worcestershire. The remaining 30 cuts would be spread across its UK business.
Yesterday trade union Prospect slammed the cuts, saying they would harm the UK’s defence capabilities.
It said the redundancies in the technololgy solutions and advice group were just the start of what is likely to be more than 700 job cuts. The further scale down is likely to come when Qinetiq reviews its business operations with the Ministry of Defence in summer.
Qinetiq was floated on the London stock market in February 2006 after being formed from the previously state-owned Defence Evaluation and Research Agency.
Leo Quinn, chief executive for the company, whose main customer is the Ministry of Defence, said he had no choice but to make the planned cuts and that they would help make the company become more competitive and productive.