STAFF at defence research firm Qinetiq, which has sites across Hampshire, are today fearing for their jobs after bosses revealed plans for a major programme of cuts.

The cutting-edge company aims to slash costs by ten per cent and warned job cuts were likely as a result.

Based in Farnborough, Qinetiq has sites in Gosport and at Portsdown near Wickham, and employs about 7,000 in the UK out of a total worldwide staff of 13,000.

The firm, formerly the stateowned Defence Evaluation and Research Agency, specialises in everything from flight controls for military planes to robot mine clearance devices and a 3D measuring system for shoe retailer Clarks.

A move into the US has proved less of a money-spinner than hoped, while delays in orders from the Ministry of Defence have added to its woes as annual profits fell to £85m from £130m a year earlier.

Boss Leo Quinn, who took the helm in November, said: “Our markets are likely to remain uncertain for some time, but we now have a decisive programme of self-help to restore value.

“We are acting to make our costs more competitive, our productivity better and our debt lower.”

Qinetiq can trace its heritage from the birth of powered flight in the UK at Farnborough through the development of radar during the Second World War.