Elizabeth Symons News

The U.K. Ministry of Defense hopes a new contract with naval shipbuilder Vosper Thornycroft would save 450 workers from the company's planned 650 job cuts announced in December. Vosper Thornycroft is building three offshore patrol vessels at its Southampton, southern England, shipyard for the Royal Navy. The vessels will replace existing ships involved with protecting fishing regulations. "Construction of the vessels is expected to safeguard around 450 jobs at Vosper Thornycroft's Southampton shipyard," the Ministry of Defense said in a statement. A spokesman for Vosper said the contract would be worth around 60 million pounds ($86.03 million) in total. Contract negotiations are expected to be finalized next month.

The U.K. Ministry of Defense said it hoped a new contract with naval shipbuilder Vosper Thornycroft would save 450 workers from the company's planned 650 job cuts announced in December. Vosper Thornycroft is building three offshore patrol vessels at its Southampton, southern England, shipyard for the Royal Navy. The vessels will replace existing ships involved with protecting fishing regulations. "Construction of the vessels is expected to safeguard around 450 jobs at Vosper Thornycroft's Southampton shipyard," the Ministry of Defense said. A spokesman for Vosper said the contract would be worth around $86.03 million in total. Contract negotiations are expected to be finalized next month.