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DEFENCE JOBS SLASHED

WEAPONS tester QinetiQ said yesterday it was slashing 400 jobs, despite a 22 per cent hike in its full-year profits. It said it needed to axe the positions as it restructured its UK division. QinetiQ, like other defence companies, is suffering as the Ministry of Defence (MoD) cuts its orders in the downturn. The MoD remains the biggest customer for most defence companies.