Airbus cuts hundreds of jobs to reduce costs

Airbus is set to cut 477 jobs in the UK as part of a global reduction of over 2,000 roles—5% of its workforce—by mid-2026, with its space division facing the largest impact. The company stated that most affected roles are unrelated to specific projects and compulsory redundancies are not expected.

The cuts follow a 22% drop in profits to £1.8 billion, despite a 7% rise in sales to £44.5 billion, with supply chain issues hampering production. Airbus aims to reduce its fixed costs while working with social partners to mitigate the impact.

The space arm will lose 1,128 jobs, with additional reductions across headquarters, air power, and connected intelligence divisions. The majority of cuts will occur in Western Europe, including Germany (689), France (540), and Spain (303).

This marks another major restructuring for Airbus, which previously announced 15,000 job cuts globally in 2020 as the pandemic disrupted the aerospace sector.

via BBC