QinetiQ UK Members OK Changes To Terms, Conditions Of Employment

28th Jun 2010 07:16

LONDON (Dow Jones)--QinetiQ Group PLC (QQ.LN) Monday announces that the recent union ballot of members in its U.K. workforce has resulted in an overall favorable vote of 75% on proposed changes to their terms and conditions of employment. MAIN FACTS: -The unions have formally accepted the Company's offer and the agreed changes now come into effect, including the pay increases offered to employees as part of the new package. -Whilst this is only one step in a two-year journey, and it is too early to quantify the impact, this agreement was integral to plans announced last month and will enable the company to strengthen its U.K. business. -Shares closed Friday at 117.0 pence. -By Iain Packham, Dow Jones Newswires; 44-20-7842-9269; [email protected] (END) Dow Jones Newswires June 28, 2010 02:16 ET (06:16 GMT)