Sales shrank by 10% at jet and tank maker BAE Systems for the first six months of 2012, falling from £9.22bn to £8.33bn on the back of defence spending cuts.
However, the company did manage to cut costs in its manufacturing processes to improve its profit margins and boosted the amount of orders it obtained from overseas. Defence firm BAE Systems will start consultations today over plans to cut 620 jobs across the UK by the end of 2013. It is set to close a site…
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