Leo Quinn, chief executive officer of Qinetiq, has confirmed that the company is to restructure its UK business given the challenging business environment it faces.
The company is in consultation with trades union representatives regarding a potential reduction of 391 employees primarily at its sites in Farnborough, Hampshire, and Malvern, Worcestershire.
This restructuring follows Qinetiq’s detailed review of its advice and technology solutions group businesses and corporate headquarters.
A further review of the remainder of the business will take place over the summer. This will include discussions with Qinetiq’s primary UK customer, the Ministry of Defence, to take into account the goverment’s future vision for UK defence and security.
’As we announced in May, our markets are likely to remain uncertain for some time, but we are acting to make our costs more competitive and improve our productivity,’ said Quinn. ’While we have no choice but to review the cost base of our business, our goal is to remain a full service provider and we will work with our customers, including the Ministry of Defence, to ensure that we maintain this capability.’