There will be no intervention by the Government into the latest crisis surrounding telecoms equipment group Marconi.
There had been speculation that new Trade and Industry Secretary Alan Johnson and Marconi chief executive Mike Parton would discuss ways of protecting jobs at a meeting at the DTI in London.
The meeting followed an announcement two weeks ago that Marconi was to axe 800 jobs following its failure to land a major BT contract.
A subsequent announcement that Marconi was to go into partnership with Chinese rival Huawei fuelled fears that the Coventry-based group could ultimately shed even more engineering posts.
Marconi, however, insisted that yesterday's meeting at the DTI was a routine affair at which Mr Parton updated senior DTI officials on its current financial performance.
"We did not ask for any intervention by the Government and the Government did not offer any," a Marconi spokesman said.
"We explained that we have to reduce our cost base and that the redundancies were necessary to protect the remaining jobs.
"We usually have a meeting like this every year following the publication of our results."
The DTI refused to comment on the meeting.