TWO of Britain's best known companies shocked workers by announcing plans to cut as many as 1,750 jobs between them.

On a day dubbed Black Friday by unions, BAE Systems said it would cut 760 jobs, mainly at a shipyard which builds submarines at Barrow-in-Furness, Cumbria.

Retail group Marks and Spencer added to the woe by saying as many as 1,000 jobs could go in a review of head office and financial services operations.

Elsewhere, Arla Foods said it planned to close a dairy at Bamber Bridge, Lancashire, as it restructures following a merger with Express Dairies. About 280 jobs will be lost, with a further 30 going at a plant in Essex.

BAE Systems said that, despite improvements in major programmes of work in the past year, it needed to match resources to its current and future requirements at Barrow-in-Furness.

About 3,000 workers are employed building naval ships and submarines at the site, which is expected to see about 720 job losses. The rest of the cuts will be at sites in southern England.

Murray Easton, managing director of BAE Systems Submarines, said the announcement was regrettable, but he said the cuts were vital to make sure that the company improved its design and build of the Astute submarine and to deliver it on time and to cost.

"This is very difficult and disappointing news for the employees, their families and the local community," he said.

Union leaders said the job losses were a devastating blow and vowed to oppose compulsory redundancies.

Keith Hazlewood, national officer of the GMB union, said: "The entire community will feel the impact of these job losses.

"The job cuts are devastating to the manufacturing sector, UK shipbuilding and the region."