BAE Systems are to cut around 700 jobs in Barrow-in-Furness as part of a sweeping consolidation of its maritime operations.

As well as these jobs, 265 in its shipyards on the Clyde, 50 at Waterlooville and up to 30 jobs at Farnborough are set to go.

The firm stressed that it would enter into consultations with employees and trade union representatives.

BAE Systems, which is waiting for the UK Ministry of Defence to decide on a raft of multi-billion-pound contracts, now plans to consolidate its work on the Type 45 Destroyer programme into its Clyde shipyards.

A spokesman said: "All of these (job losses) will be taking effect progressively over the next several months.

"In accordance with normal company practice, BAE Systems will be entering into consultations with employees and trade union representatives.

"Additionally, BAE Systems announces it intends for Barrow, supported by Farnborough, to continue to develop as a world class Submarine Centre of Excellence within the company, for current new and future submarine programmes. "

Around 3,000 workers are based at the Barrow-in-Furness yard, which employed 20,000 in its heyday.

A North West Development Agency task force has been set up to deal with the crisis following an emergency meeting on Monday.

A statement from Cumbria County Council said: "The announcement is a major blow to the already fragile economy of the Furness peninsular.

"We support the setting up of the North West Development Agency (NWDA) led Taskforce and will do what we can to support its work."

The Labour MP for Barrow and Furness, John Hutton said it is now important to focus on ideas that will lead to the creation of other jobs.

Mr Hutton said: "I know the Regional Development Agency will be making an announcement about how it can fast track some of its schemes that are in the pipeline.

"It will also be looking at how we can attract economic assistance from the government."

The jobs announcement comes as the Barrow yard waits to see whether it has won a government contract to build two new aircraft carriers.