Guildford employer BAE Systems warns of tough outlook
By mattcollison | Thursday, February 21, 2013, 15:40
BAE Systems which employs staff in Guildford has warned of tough trading conditions amid military spending cuts.
The defence, aerospace and security company has announced a six per cent profits slump for 2012.
It has already warned 3,500 of its US jobs could be at risk if Pentagon spending cuts went ahead.
The firm, which employs staff at Surrey Research Park in Guildford, has said: "Growth opportunities in some segments of the US and UK markets are identified, but the overall outlook in both countries is expected to continue to be constrained."