BAE Systems To Cut 1100 Jobs

9/15/2009-UK-based defense contractor BAE Systems announced Tuesday that it began consultation regarding the potential closure of one of its sites and job cuts at another three locations, which would result in eliminating 1,116 jobs. The company said the Woodford site in Cheshire would be shuttered at the end of 2012 upon completion of the Nimrod MRA4 contract, which would result in 630 jobs lost; 205 jobs will be eliminated at Samlesbury in Lancashire; 170 jobs will be lost at Warton in Lancashire; and 111 jobs will be cut at Farnborough in Hampshire.

Write to Chip Brian at cbrian@tradethetrend.com

---------------------------------------------------------------------------------------------

SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.TradeTheTrend.com.

Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.TradeTheTrend.com/signup.html

Related terms: contract, contractor, defense, market, securities