BAE Systems is reportedly planning to cut more than 1,000 jobs later this week.
According to Sky News, the country’s biggest manufacturer of arms will slash the bulk of the jobs at its Warton plant in Preston, Lancashire, while workforces at other locations will be trimmed too.
Sky reported that the cuts are understood to relate largely to the sluggish pace of production of the Eurofighter Typhoon fighter aircraft, and uncertainty around the timing of a potentially large order from Saudi Arabia.
Brexit is not believed to be a factor in the move, Sky said, citing sources close to the company.
When contacted by The Independent for comment, a spokesperson for BAE Systems said that the company continually reviews its operations to "make sure we are performing as effectively and efficiently as possible, delivering our commitments to existing customers and ensuring we are best placed to secure future business”.
“If and when there are any changes proposed we are committed to communicating with our employees and their representatives first,” the spokesperson added.
FTSE 100-listed BAE is among the world's largest defence companies and employs over 82,000 people globally.
In August the group reported a better than expected 11 per cent rise in half-year core profits to £945m and said it was on track to meet its full-year target.
At the time, Charles Woodburn, who took over as chief executive in July, said that he planned to sharpen operations but saw no reason to change overall strategy of the company.
“It’s clear that we have the right strategy that harnesses our strengths, so we will continue to stay the course,” he said at the time, according to Reuters.
BAE’s largest markets are Britain and the United States, and it also has substantial operations in Saudi Arabia, India and Australia.
