Connect with us

Hi, what are you looking for?

Alive Business PlanAlive Business Plan

Stock

Airbus to cut 2,043 jobs in Defence and Space, sources say

By Tim Hepher

PARIS (Reuters) -Airbus is cutting 2,043 jobs in its Defence & Space businesses, or 6% of the divisional workforce, drawing back slightly from an earlier target of up to 2,500 job reductions, two people familiar with the matter said on Wednesday.

More than half the cuts – affecting 1,128 jobs – will fall in the Space Systems business following 1.5 billion euros ($1.58 billion) of recent writedowns, they told Reuters, asking not to be named.

An Airbus spokesperson declined to comment on the figures, provided to unions in a briefing.

Airbus in October announced plans to cut up to 2,500 jobs in Defence and Space, or 7% of the workforce, after heavy losses in its satellites business led by the troubled OneSat programme.

The European aerospace group has said it aims to carry out the cuts by mid-2026 but will hold off taking an immediate restructuring charge pending talks with unions.

In the plans outlined to unions on Wednesday, Airbus plans to cut 250 jobs in its Air Power or combat aircraft sub-division and 47 in Connected Intelligence, the sources said. The divisional headquarters will shed 618 posts, they added.

Germany will bear the largest share of the overall cuts with 689 positions affected, followed by France with 540, Britain with 477, Spain with 303 and other non-core nations with 34.

($1 = 0.9489 euros)

This post appeared first on investing.com
Become a VIP member by signing up for our newsletter. Enjoy exclusive content, early access to sales, and special offers just for you! As a VIP, you'll receive personalized updates, loyalty rewards, and invitations to private events. Elevate your experience and join our exclusive community today!

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    You May Also Like

    Latest News

    The Gateway Pundit, a far-right website, published a note from its editor on Saturday acknowledging that two election workers in Georgia did not engage...

    Latest News

    New majorities in Congress, particularly when the incoming party has a new leader, offer the rare chance for the institution to take a breath...

    Latest News

    Sister Stephanie Schmidt had a hunch about what her fellow nuns would discuss over dinner at their Erie, Pennsylvania, monastery on Wednesday night. The...

    Investing

    JAKARTA (Reuters) -Indonesia has asked Alphabet (NASDAQ:GOOGL)’s Google and Apple (NASDAQ:AAPL) to block Chinese fast fashion e-commerce firm Temu in their application stores in...



    Disclaimer: alivebusinessplan.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


    Copyright © 2024 alivebusinessplan.com