Airbus Faces Major Restructuring: 2,500 Jobs on the Line

Airbus plans to cut 2,500 jobs in its Defence & Space division as part of a restructuring effort to counteract significant losses in satellite projects. The cuts, amounting to 7% of the unit's workforce, are expected by 2026. Financial challenges include OneSat charges and defence project delays.

Airbus is slated to reduce its Defence & Space division's workforce by up to 2,500 positions, as reported by insiders. This decision follows significant financial setbacks on satellite projects.

The restructuring, representing 7% of the division's workforce, will be implemented by 2026. Airbus's challenges also span several space and defence projects, leading to a critical financial situation, according to company insiders.

The job cuts, reported first by AFP, arise from efforts to increase efficiency under the ATOM project. Airbus is preparing a turnaround strategy for its Space Systems sector amid ongoing talks about satellite business consolidation with companies like Italy's Leonardo and France's Thales.

(With inputs from agencies.)