Defence and technology firm Qinetiq, which employs around 2,000 people at its corporate HQ on the Cody Technology Park, Farnborough announced on that 130 jobs would go from there as it began a 90-day consultation with staff and unions.

The cuts come just a week after workers voted to accept reduced redundancy terms in return for a 3.5% pay rise. The new terms cap any payoffs to four weeks for every year of service up to a maximum of 15 years, down from eight weeks’ pay per year up to a maximum of 20 years.

Most of the jobs to go are reportedly those of highly skilled scientists. At the Malvern site, with a rich history of innovation, it looks as if MEMS, semiconductors, photonics, lasers and quantum work will all go.

QinetiQ CEO (right) Leo Quinn has said that 10% from company’s operating costs must go, as MoD orders have dried up.

The Prospect union, which represents scientists and engineers, warned the latest cull at Malvern and Farnborough operations were just the ‘tip of the iceberg.’ National secretary of Prospect, David Luxton, said a further 300 jobs at Malvern and Farnborough were likely to go at the group’s ‘managed services’ division, which looks after MoD assets such as missile ranges and munitions testing facilities.

The jobs blow follows last month’s revelation that QinetiQ (up 2.6p at 121.7p) paid out more than £1.1m when it welcomed new CEO Quinn with a £600,000 ‘golden hello’, paying £517,000 to former boss Graham Love for his loss of office.