Company News 

Seven days: 13 October 2017

Seven days: 13 October 2017

Demand gap

BAE Systems (BA.) announced almost 2,000 aerospace and maritime job losses in the UK, as part of a business restructuring in response to increased competition and an order gap. Chief executive Charles Woodburn said in a statement that it was attempting to align its capacity more closely with near-term demand and enhance its competitive position to win new business. Country-based business units will also be abolished in favour of four divisions – air, land, maritime and applied intelligence – reporting directly to Mr Woodburn. Management also acknowledged that rates of production of its Typhoon and Hawk jets would slow to take into the account the uncertainty of the level of future orders.

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