Manccowboy,
It's all very sorry, but I think you have added 2 and 2 and come up with 5.
The "****" that was trying to be converted was built in the very same factory, was it not? Even so, I think its a bit of a red herring to suggest that all the woes stem from the decision to reuse Nimrod fuselages.
The poor sods who are losing their jobs had been warned that Woodford would close on completion of the MRA4 program, so the writing was on the wall, and should have been even more apparent when the delays came in.
The biggest losers will be those who die as a result of the UK not having the capability. It is a very real prospect that people will die because of this. A tad more serious than employment issues.
I recognise that you are very close to this, but equally, the MOD does not exist to provide employment. At all. It exists to perform military functions. Something it needs the right kit to do.