Proud For Profits
  • Investing
  • Stock
  • Latest News
  • Economy
  • Investing
  • Stock
  • Latest News
  • Economy
No Result
View All Result
Proud For Profits
No Result
View All Result
Home Stock

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

by
December 4, 2024
in Stock
0
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
Previous Post

S&P 500 climbed 0.3%, and Nasdaq-100 futures jumped 0.7%

Next Post

Amazon shares rise after annual cloud conference

Next Post
Amazon shares rise after annual cloud conference

Amazon shares rise after annual cloud conference

Enter Your Information Below To Receive Trading Ideas and Latest News

    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    Popular News

    Nearly all of DC shut down for Trump’s inauguration. So why was there no designated survivor?

    Nearly all of DC shut down for Trump’s inauguration. So why was there no designated survivor?

    January 22, 2025
    Trump’s FBI overhaul begins as Acting Director Brian Driscoll puts ‘untouchable’ feds on notice: former agent

    Trump’s FBI overhaul begins as Acting Director Brian Driscoll puts ‘untouchable’ feds on notice: former agent

    January 22, 2025
    5 Top Canadian Oil and Gas Dividend Stocks in 2025

    5 Top Canadian Oil and Gas Dividend Stocks in 2025

    January 22, 2025
    Track all markets on TradingView

    About Proud For Profits

    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Main Categories

    • Investing
    • Stock
    • Latest News
    • Economy

    Latest News

    • Nearly all of DC shut down for Trump’s inauguration. So why was there no designated survivor?
    • Trump’s FBI overhaul begins as Acting Director Brian Driscoll puts ‘untouchable’ feds on notice: former agent
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Copyright © 2025 proudforprofits.com | All Rights Reserved

    No Result
    View All Result
    • Investing
    • Stock
    • Latest News
    • Economy

    Copyright © 2025 proudforprofits.com | All Rights Reserved