Airbus to cut 2,043 Defence and Space jobs to reduce overheads and fixed costs

From Investing.com: 2024-12-04 13:45:38

Airbus is cutting over 2,000 Defence and Space jobs, or 6% of its division, with more than half in the Space Systems business due to losses. The job cuts aim to reduce overheads and fixed costs by focusing on white-collar and management positions. Germany will bear the largest share of the cuts.

Airbus announced plans in October to cut up to 2,500 jobs in Defence and Space after 1.5 billion euros of writedowns in its satellites business. The cuts will be carried out by mid-2026, with 689 positions affected in Germany, 540 in France, 477 in Britain, 303 in Spain, and 34 in other non-core nations.

Airbus also plans to cut 250 jobs in the Air Power sub-division and 47 in Connected Intelligence. The divisional headquarters will shed 618 posts. The job cuts follow a more than year-long efficiency review and are part of a reorganisation plan called Proton. Governments of the four host nations have been briefed on the cuts.

Airbus, Thales, and Leonardo are exploring plans to set up a new European company pooling satellite activities to compete with Elon Musk’s Starlink. The new company, code-named “Project Bromo,” aims to strengthen Europe’s position in the satellite market. ($1 = 0.9489 euros)



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