Defence giant Babcock International to cut 1,000 jobs
The government contractor also expects a “significant” £1.7bn write-off as part of a company review. …
Babcock, which operates support services, is worth less than a third of its value five years ago. Other outsourcing firms, such as Serco, Capita and Carillion, have had a torrid time. However, markets seem to think that Babcock, a company that’s involved in the defence of the realm, has a fighting chance of turning itself around.
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