Airbus plans to cut 2,500 jobs in its defense and space division by mid-2026 due to a 46% drop in net profit.

Airbus plans to reduce its defense and space division workforce by up to 2,500 jobs, approximately 7% of its total staff in that sector, by mid-2026. This decision follows a significant 46% drop in net profit due to rising costs and declining demand for telecommunications satellites. The company is undergoing a broader efficiency review amid ongoing challenges in the aerospace industry, including competition with Boeing, which recently announced major layoffs.

October 16, 2024
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