Airbus is reducing its workforce by approximately 2,000 jobs in its Defence and Space division. This accounts for around 5% of the unit’s overall headcount. The majority of these job cuts will be made in the Space Systems business, which has been struggling with financial losses due to satellite production.
The company had initially planned to cut 2,500 jobs but revised this plan to avoid compulsory redundancies. Instead, the restructuring dubbed “Proton” will spread the job losses across four host nations: France, Germany, Spain, and the UK. Airbus claims that the governments of these countries have been informed about the plan, although the details remain scarce.
The space industry is facing challenges as European firms struggle to compete with smaller, cheaper orbiters like those used by Elon Musk’s Starlink business. This shift has affected companies such as France’s Thales, which is in talks with unions over potential job cuts to its space unit.
Source: https://finance.yahoo.com/video/airbus-sheds-2-000-jobs-083238869.html