Fife job fears as defence giant Babcock takes axes to 1,000 posts
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Babcock International, the defence giant employing hundreds of workers at the Rosyth dockyard in Fife, is to slash around 1,000 jobs amid a sweeping restructuring of the business.
The plans to cut jobs came as the group revealed mammoth writedowns of £1.7 billion and outlined proposals to sell off a raft of its businesses.
The firm, which is the Ministry of Defence’s second largest contractor, said about 850 of the job cuts would be made across its UK operations, with the remainder overseas.
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Hide AdIt came as Babcock said a turnaround plan would see it simplify the business and raise at least £400 million from the sale of assets over the next year.
