Boeing's European rival Airbus is axing up to 2,500 jobs at its space and defense unit --[Reported by Umva mag]

Airbus said in July it had taken a charge of more than $1 billion following an audit in its space division.

Oct 16, 2024 - 11:51

Boeing's European rival Airbus is axing up to 2,500 jobs at its space and defense unit --[Reported by Umva mag]

Airbus staff seen working on the interior of a C295 military aircraft at a facility in Seville, Spain in March 2024. — Airbus makes the C295 military aircraft at its factory in Seville, Spain.
Francisco J. Olmo/Europa Press via Getty Images

Airbus is cutting up to 2,500 jobs in its space and defense unit.
A source with knowledge of the situation confirmed the layoffs to Business Insider.
The Airbus cuts come just days after rival Boeing announced it would lay off 17,000 staff.

Airbus, the European aviation giant, is axing up to 2,500 jobs in its space and defense unit.

A person with knowledge of the move confirmed the cuts to Business Insider but did not want to be named as they were not authorized to speak publicly.

No further specifics of the layoffs are yet known.

The expected cuts come just months after Airbus said in its second-quarter earnings report that the space division was affecting its financial performance.

In those earnings, it took a charge of 989 million euros ($1.08 billion) against the space business, relating to an audit of costs in the division and projected lower revenues.

In June Airbus said it would deliver about 770 commercial jets this year, down from a previous target of 800. Its A320neo family of single-aisle shorthaul jets has outsold the Boeing 737 Max since 2019, following its two fatal crashes.

The Airbus job cuts come just days after its arch aviation rival, Boeing, said it would ax about 17,000 roles. The cuts relate to its ongoing production issues and an ongoing strike at its key manufacturing plant near Seattle.

This is a developing story.

Read the original article on Business Insider

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