Jump to content
House Price Crash Forum
Realistbear

B A E Systems To Cut 1,300 Jobs

Recommended Posts

http://www.telegraph.co.uk/finance/newsbysector/industry/defence/8190417/BAE-Systems-to-cut-1300-jobs-following-Governments-defence-review.html

Defence
BAE Systems to cut 1,300 jobs following Government's defence review
BAE Systems, the defence group, will on Thursday announce that it is cutting around 1,300 jobs in the UK as a direct result of the Government’s recent defence review.

Wow--some bearish news at last!

Share this post


Link to post
Share on other sites

Good example of how government cuts lead to job losses in the private sector, where a lot of the modern private sector is contracting to the government.

Share this post


Link to post
Share on other sites

I know a manager in Bae system who bought a house in london recently.

He was told that it wasn't worth what he agreed to pay.

He threatened to sue the valuer and demanded his bank lend him more money !!!!!

How f**ked up is that...I'd have asked for them to lower their price.

Hopefully he wont loose his job :rolleyes:

Share this post


Link to post
Share on other sites

I know a manager in Bae system who bought a house in london recently.

He was told that it wasn't worth what he agreed to pay.

He threatened to sue the valuer and demanded his bank lend him more money !!!!!

How f**ked up is that...I'd have asked for them to lower their price.

Hopefully he wont loose his job :rolleyes:

How thick is that? Was he on a six figure package? Hope he was not involved with the bomb?

I thought BAE weren't going to fire people in return for us building the white elephants?

Share this post


Link to post
Share on other sites

How thick is that? Was he on a six figure package? Hope he was not involved with the bomb?

I thought BAE weren't going to fire people in return for us building the white elephants?

He is on a HEFTY package....he will miss it when it's going.

Share this post


Link to post
Share on other sites

He was told that it wasn't worth what he agreed to pay.

He threatened to sue the valuer and demanded his bank lend him more money !!!!!

How f**ked up is that...I'd have asked for them to lower their price.

This happens all the time on MSE.

People don't understand they go on a money saving forum...

"the house I want to buy has been undervalued by the bank, what can I do"

Share this post


Link to post
Share on other sites

Very bearish indeed.. BAE redundancies aren't typically linked to recessions because they typically have a solid 5 year order book. Looks like pulling the plug on the likes of Numbrod and Harrier with immediate effect is impacting them big-time.

I worked at BAE for 8 years on Eurofighter and Numbrod in Engineering Software Development and my old colleagues tell me that all the sub contractors are already gone (very unusual) and they are fearing for permanent jobs next as budgets have been slashed. Having said that all the subbies I knew there aren't out of work and are working in more private sector areas and some in other areas of BAE like submarines in Barrow.

Share this post


Link to post
Share on other sites

These redundancies were a given after the SDSR. They wont really impact greatly on the housing market overall - and are further depressing sign of our complete mismanagement of defence as we slowly become a third tier nation..mad.gif

I really wish they would re-consider some of their bizarre/hasty decisions (the politico high ups should all be reading this http://www.uknda.org...d=745&catid=-1 but even they secretly agree they wont take a stand..sigh).

Very bearish indeed.. BAE redundancies aren't typically linked to recessions because they typically have a solid 5 year order book. Looks like pulling the plug on the likes of Numbrod and Harrier with immediate effect is impacting them big-time.

I worked at BAE for 8 years on Eurofighter and Numbrod in Engineering Software Development and my old colleagues tell me that all the sub contractors are already gone (very unusual) and they are fearing for permanent jobs next as budgets have been slashed. Having said that all the subbies I knew there aren't out of work and are working in more private sector areas and some in other areas of BAE like submarines in Barrow.

Share this post


Link to post
Share on other sites

Good example of how government cuts lead to job losses in the private sector, where a lot of the modern private sector is contracting to the government.

And of course it all has a knock-on effect, as 1300 people can no longer afford to go out for a meal and so a restaurant closes down, the staff at the restaurant get laid off so they can no longer afford a holiday, so the travel agency closes down because nobody is booking holidays, the travel agency staff no longer need and cannot fake tans so the tanning salon closes down, the tanning salon staff get laid off etc etc etc...

Probably more people lose their jobs in groups of six, or ten, or thirty every single day than get laid off in the BAE losses announced today.

Share this post


Link to post
Share on other sites

I've received a bizarre cluster of emails from recruitment agencies punting differing defence software development jobs over the last several months. I get the impression something's going on in the industry at the moment and it isn't just headcount reduction.

:ph34r:

Share this post


Link to post
Share on other sites
Looks like pulling the plug on the likes of Numbrod and Harrier with immediate effect is impacting them big-time.

I worked at BAE for 8 years on Eurofighter and Numbrod in Engineering Software Development

The £3.6 billion pounds worth of Nimrod work, which I'm taking forgranted was all greenlighted during Labour's 13 years has been a real success isn't it. I don't disagree with the decision to scrap them but still a bit galling to think of it as a 'saving'.

£3.6 billion Nimrods dismantled for scrap

Nine brand new Nimrod surveillance aircraft, which cost taxpayers £3.6 billion, will be dismantled and scrapped without ever having flown.

The decision led to the Nimrods being branded "the world's most expensive pile of scrap metal". But the MoD has decided that simply scrapping the new Nimrods is the "most cost effective option". "We estimate that around £2 billion will be saved over the next 10 years by not bringing the aircraft into service."

http://www.telegraph...-for-scrap.html

Share this post


Link to post
Share on other sites

And of course it all has a knock-on effect, as 1300 people can no longer afford to go out for a meal and so a restaurant closes down, the staff at the restaurant get laid off so they can no longer afford a holiday, so the travel agency closes down because nobody is booking holidays, the travel agency staff no longer need and cannot fake tans so the tanning salon closes down, the tanning salon staff get laid off etc etc etc...

Probably more people lose their jobs in groups of six, or ten, or thirty every single day than get laid off in the BAE losses announced today.

Exactly that is why the Brown plan of collosal deficit spending actually is a good idea in downturns. It can actually lead to a smaller deficit than countries like Ireland which try to cut hard. Of course there were other big problems with Labour's economic plans but the deficit spending at the end was a bright spot.

That downward cycle you described can work the other way too. If a first mover helicopter drops a ton of money in an area, the people go out and spend it and actual work happens.

Share this post


Link to post
Share on other sites

I've received a bizarre cluster of emails from recruitment agencies punting differing defence software development jobs over the last several months. I get the impression something's going on in the industry at the moment and it isn't just headcount reduction.

:ph34r:

Question is: Do the jobs being advertised actually exist? Sounds like the agencies are being proactive about filling their databases with people who can fill posts. Wife no longer bothers applying for agency advertised jobs as they never result in an interview (unlike non-agency jobs).

Gordon's huge spending programme makes sense if you have saved money for a rainy day - which they didn't. That said the Tories appear to be using this as an excuse to get rid of things they don't like rather than those which make the biggest savings. Money is still getting helicoptered in - but mostly to the banks (true under Labour too) as they are apparently the most deserving and necessary for our future economic welfare. But I wouldn't count on too much of it trickling through to the rest of us.

Edited by greencat

Share this post


Link to post
Share on other sites

Question is: Do the jobs being advertised actually exist? Sounds like the agencies are being proactive about filling their databases with people who can fill posts. Wife no longer bothers applying for agency advertised jobs as they never result in an interview (unlike non-agency jobs). 

 I'm pretty cynical about recruitment agencies, however I have had previous contact with these ones and was therefore already on their databases. The interesting thing about the roles punted was the very heavy defence bias. The required skills didn't particularly match my CV, so I assume the agencies are shotgunning them out to everyone on their books.

I received a fair few interviews and job offers via agencies the last time I was looking so I know they are a viable route to employment - one just needs to accept they are scum-sucking pondlife and play them at their own game, by signing up with lots of them and not getting wound up about the 90% dross that appears in ones in-tray.

Share this post


Link to post
Share on other sites

Easy chaps, this thread is about redundancies at BAe, following the Strategic Defense Review, most notably Nimrod.

It has nothing to do with Recruitment Agencies, not is it an "Eye Tea" opportunity to winge about not being paid enough to understand a little bit of logic. It is, however, about peoples jobs. In the North West (Warton) around 1100 job losses have been cited. This is 1100 local jobs, people will notice, house prices will fall. Small businesses will crash, areas will be left destitute, a large airfield will be barren.

But we shouldnt worry, you IT chaps arent being paid enough.

Pssff

Share this post


Link to post
Share on other sites

Easy chaps, this thread is about redundancies at BAe, following the Strategic Defense Review, most notably Nimrod.

It has nothing to do with Recruitment Agencies, not is it an "Eye Tea" opportunity to winge about not being paid enough to understand a little bit of logic. It is, however, about peoples jobs. In the North West (Warton) around 1100 job losses have been cited. This is 1100 local jobs, people will notice, house prices will fall. Small businesses will crash, areas will be left destitute, a large airfield will be barren.

But we shouldnt worry, you IT chaps arent being paid enough.

Pssff

This thread is about defence jobs being lost. I mentioned a particular indication of defence jobs coming on offer, and greencat perfectly reasonably questioned the reliability of that indicator. I think you've read something into it that isn't there.

:rolleyes:

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 311 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.