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

• Airbus is cutting up to 2,500 jobs in its space and defense unit.
• The cuts will help create a "more effective and efficient organizational structure," Airbus said.
• The Airbus cuts come just days after rival Boeing announced it would lay off 17,000 staff.

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

In a statement Wednesday, the company said that eliminating the roles will help create a "more effective and efficient organizational structure."

"We want to shape the division so it can act as a leading and competitive player in this ever-evolving market," said Mike Schoellhorn, CEO of Airbus' space and defense unit. "This requires us to become faster, leaner and more competitive."

No compulsory redundancies were planned and further details would be issued at a later time, Airbus added. The company had almost 148,000 staff at the end of last year.

The move was first reported by Agence France-Presse.

The Airbus cuts come just months after it 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.

On Wednesday Schoellhorn said the company has been affected by "a fast-changing and very challenging business context with disrupted supply chains, rapid changes in warfare and increasing cost pressure due to budgetary constraints."

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 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 eliminate about 17,000 roles. The cuts relate to its ongoing production issues and an ongoing strike at its key manufacturing plant near Seattle.

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