Feeling UK budget axe, Qinetiq shedding jobs
Qinetiq, which is feeling the squeeze from the dip in research and development budgets, has announced plans to shed several hundred jobs.

Qinetiq, which is feeling the squeeze from the dip in research and development budgets, has announced plans to shed several hundred jobs.

“Our markets are likely to remain uncertain for some time, but we have a decisive program of self-help to restore value,” Qinetiq CEO Leo Quinn said on July 6. “We are acting to make our costs more competitive and improve our productivity.” He added that while the privatized research-and-development company that evolved from the UK’s former Defence Evaluation and Research Agency (DERA) had no choice but to review the cost base of its business; its goal is to remain a full-service provider.