QinetiQ with further layoffs

These new layoffs come in addition to the potential reduction of 391 employees in the UK, which was announced in July. Leo Quinn, CEO of QinetiQ said: "In today's challenging business environment we need to ensure that QinetiQ is focussed on its strengths and is fully aligned with the needs of its customers. Whilst we must reset our cost base in line with demand, we will continue to maintain a full capability for our customers through our unique understanding of the global aerospace, defence and security markets."