Finmeccanica’s Selex Galileo Trims 150 U.K. Jobs on Budget Cuts

Finmeccanica SpA (FNC)’s Selex Galileo unit, which makes defense electronics including military radios, will eliminate about 150 manufacturing, engineering and support jobs at sites in the U.K. as military budgets shrink.

Job cuts will come at sites in Luton and Basildon, England and Aberporth, Wales, Selex Galileo said today in an e-mailed statement.

“Highly skilled, well-paid jobs are being lost at an alarming rate in the U.K. defense industry because the government is squeezing” military spending, Ian Waddell, national officer for aerospace & shipbuilding for the Unite labor union, said in a separate statement.

The U.K. government must find further savings in its military programs beyond cuts announced in a review last October, Defense Minister Peter Luff said in March. Proposed reductions to balance the ministry’s budget fall short of what’s needed for the 12 months beginning in April, Luff said.

“This has been a difficult decision,” Norman Bone, Selex Galileo’s managing director, said in the statement. The job cuts were needed to “address some of the difficulties facing our business and to ensure that we maintain an affordable and efficient cost base to remain competitive.”

To contact the reporter on this story: Howard Mustoe in London at hmustoe@bloomberg.net.

To contact the editor responsible for this story: Benedikt Kammel at bkammel@bloomberg.net

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