Hundreds of redundancies are to take place at a helicopter manufacturer following a dip in business from the Ministry of Defence [MoD].
Around 350 jobs are to be lost at AgustaWestland - which has a factory in Yeovil and is headquartered in Farnborough - as a result of declining revenues from the MoD, with a voluntary redundancy programme being launched alongside a consultation period of 90 days.
This means no compulsory redundancies will be actioned until the beginning of 2012, while the majority of losses are expected to affect those in management and business support, as opposed to engineers.
Business secretary Vince Cable said news of the job losses will be upsetting for not only those directly involved with the company, but also the wider community in Yeovil.
The politician added the firm - which came to be in its current form following a joint venture between Agusta and Westland in 2001 - is likely to move into civil helicopter work, where there are opportunities for strong growth.
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Posted by Trusha Vyas