July 21 (Bloomberg) -- U.K. Defense Secretary Geoff Hoon said the Ministry of Defence will cut 20,000 jobs and save 2.8 billion pounds ($5.2 billion) by 2008, freeing up cash for modernizing weapons and equipment instead of supporting troops. Announcing Prime Minister Tony Blair's five-year plan for defense, Hoon said he will reduce the number of soldiers, sailors and airmen by 10,000 and close at least one base. Older ships and aircraft will be retired ahead of schedule. Weapons makers including BAE Systems Plc and Boeing Co. will benefit from new orders as Hoon attempts to focus the military on...