10/3/2011 9:03:08 AM
Smiths Group has warned that its key medical, weapons detection and military communications divisions are all being squeezed by spending cuts, in the latest instance of government austerity measures around the world hitting British manufacturers. A day after the aerospace and defence giant BAE Systems confirmed it would shed 3,000 workers in the UK, Smiths said it would cut jobs and close plants in its detection unit as it seeks to slash its annual costs by £40m by 2014. The detection unit, which makes a range of equipment from X-ray scanners at airports to biological weapon and drug detection devices, employs 2,500 people globally, with about 200 staff in the UK at its plant in Watford.
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