QinetiQ cuts jobs at Malvern after business review
DEFENCE firm QinetiQ is to axe more than 200 jobs from its operation in Worcestershire as part of a restructuring operation forced on it by the challenging economic environment.
The company, which employs around 6,500 people, said 230 jobs would be going from its base in Malvern together with a further 160 split between its base in Farnborough, Hampshire and other UK operations.
It has begun consultations with trades unions over the redundancies.
Scaled cutbacks by the Ministry of Defence – QinetiQ’s principal UK customer – as the new coalition Government sets to wield the axe on public sector spending is thought to have had a bearing on the decision.
In a statement, QinetiQ said the restructuring followed a review of its advice and technology solutions group businesses and corporate headquarters.
Further job losses could be in prospect as the business review is continuing over the summer. QinetiQ said this would include discussions with the MoD to determine it future priorities.
Leo Quinn, QinetiQ chief executive, said: “As we announced in May, our markets are likely to remain uncertain for some time, but we have a decisive programme of self-help to restore value.
“We are acting to make our costs more competitive and improve our productivity. We are reshaping QinetiQ to focus on our strengths so that we are better aligned with customer needs. Whilst we have no choice but to review the cost base of our business, our goal is to remain a full service provider and we will work with our customers, including the Ministry of Defence, to ensure that we maintain this capability.”
The Prospect union, which said an additional 700 job losses could be announced, has warned the redundancies could have an effect on the UK’s defence capabilities.
