BAE to cut 440 management jobs

9th Oct 2014 17:25

Defence, aerospace and security firm BAE Systems will cut 440 management jobs across the UK.The company said the cuts in BAE's Military Air and Information division were decided on after a review of its management structure.The firm said the decision was "regrettable" but that the changes would "make a more efficient and effective business"."We believe that by implementing changes to our management structure, we will become a more efficient and effective business and be better placed to meet the needs of current and potential customers in what is an increasingly competitive market," group managing director Chris Boardman said."We understand that this is a time of uncertainty for our employees and we are committed to working with them and their representatives to explore ways of avoiding and mitigating potential job losses."Lancashire is set to be the hardest hit by the job cuts, with 286 jobs to be lost in the county, where parts for the F-35 Lightning 2, Eurofighter Typhoon, Tornado and Hawk aircraft are made.Jobs are also set to be cut in Surrey, Lincolnshire, Yorkshire, Dorset and Norfolk.BAE shares closed 1.21% down to 446.34p.