Up to 2,500 job losses at Airbus Defence and Space
Airbus Defence and Space is to cut around 2,500 jobs “in light of a continued complex business environment, especially in the Space systems segment,” explains the company.
“In recent years, the defence and space sector and, thus, our division have been impacted by a fast changing and very challenging context,” said Airbus Defence and Space CEO Mike Schoellhorn; citing disrupted supply chains and increasing cost pressure due to budgetary constraints as among the mitigating factors.
Although Airbus added that “transformation efforts initiated in 2023 have started bearing fruit,” the proposed changes are essential to help the division “act as a leading and competitive player in this ever-evolving market”.
In it H1 2024 results, Airbus reported revenues of €29.8 billion with a free cash flow of -€0.5 billion, a performance which “mainly reflects significant charges in our space business,” explained Airbus CEO Guillaume Faury.
The proposed job losses follow an extensive technical review of all programmes, conducted by the Space Systems management team in the first half of 2024.
