Around 375 job losses are planned for the maritime servicing and support business, with 340 in Portsmouth.
Last night Kirkcaldy and Cowdenbeath Labour MP Lesley Laird called on the United Kingdom government to step in to save the Fife jobs. "This must include the possibility of accelerating orders to provide additional work for BAE's employees".
Apple reportedly partnering with LG for folding iPhone
Meanwhile, LG Innotek has already formed a new team that will be developing a rigid flexible printed circuit board for the device. Samsung is now the leader in providing OLED screens and it has been partnering with Apple for the provision of OLED screens.
Union leaders are pressing the British government to ensure new fighter aircraft are built in the U.K.as they seek to avert job cuts at defence giant BAE Systems. Most of the job reduction (i.e. 1,400 roles) will occur in BAE Systems' Military Air business over the next three years.
Elsewhere in the country, 750 jobs are to be lost in Lancashire with a further 400 posts going in East Yorkshire, 245 in Norfolk and North Yorkshire and 150 in London and Guildford.
Analysts Watch Altria Group (NYSE:MO) And Issue New Targets
This buyback authorization authorizes the company to purchase up to 0.7% of its stock through open market purchases. Altria Group makes up approximately 1.4% of Busey Trust CO's portfolio, making the stock its 23rd biggest holding.
"The proposed restructuring of our Applied Intelligence cyber security business will drive continued growth from a more targeted portfolio of products and services focussed on providing leading cyber security, intelligence and financial crime prevention capabilities to government and commercial customers in priority geographic markets", it said in a statement.
Chief Executive Charles Woodburn, who took the top job in July after 15 months as chief operating officer, said BAE had to align its workforce capacity more closely with near-term demand and become more competitive to secure new business. "I recognise this will be hard news for some of our employees and we are committed to do everything we can to support those affected".
K2M Group Holdings, Inc. (NASDAQ:KTWO) Sees Price Decrease - Down by 20.43%
Finally, Sectoral Asset Management Inc increased its position in shares of K2M Group Holdings by 22.9% during the second quarter. The Procter & Gamble Company has a beta of 1.44, offering the possibility of a higher rate of return, but also posing more risk.
Steve Turner, assistant general secretary of the Unite union, said the cuts will "not only undermine Britain's sovereign defense capability, but devastate communities across the United Kingdom who rely on these skilled jobs".