Airbus Defence & Space plans to cut 2,500 jobs due to poor performance.

 

 

 

 

Airbus' space division, 'Airbus Defense & Space,' announced on the 16th that it plans to cut 2,500 jobs by mid-2026 due to deteriorating performance.

Airbus recorded a loss of around $1 billion in 2023 due to cost management issues and delays in several satellite projects.

In a statement on the 16th, Airbus said, "The defense and space division is being significantly affected by supply chain disruptions, rapid changes in the nature of warfare, and increasing pressure to cut costs due to reduced government budgets. The space market, in particular, is becoming increasingly challenging."

Airbus Defense & Space CEO Mike Schoellhorn emphasized, "To overcome the current uncertainty, the organization must operate more quickly and efficiently, and improving competitiveness is essential."

He also mentioned that there may be additional measures for operational efficiency.

Details regarding the restructuring will be revealed during the earnings announcement scheduled for October 30.

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Airbus Defence & Space plans to cut 2,500 jobs due to poor performance.