DEFENCE giant BAE Systems – which has already announced 3,000 job losses in the UK – warned that flood damage and defence budget cuts in the US could hit its business.
The British firm said it was assessing the impact of serious flood damage at its electronic base at Johnson City, New York, following severe weather on the US east coast.
BAE also warned of “significant uncertainty” over the level of future defence spending in the US as politicians consider options for slashing the country’s huge budget deficit.
Despite US budget cuts, BAE has won a £286m contract to take part in a technology development programme with the US army.
