Babcock axes 1,000 jobs in restructuring plan under new CEO
CEO David Lockwood details plan to reshape the company around defence activities
13 April 2021 - 19:50
London — Babcock International jumped the most in 28 years on Tuesday as CEO David Lockwood detailed plans to reshape the engineering firm around defence activities while ruling out a share sale.
The stock rose by more than a third on Tuesday after Babcock said in a statement it will sell businesses valued at about £400m, with restructuring measures set to trim about 1,000 posts...
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