By Pierre Bertrand
Airbus said that it will cut around 2,000 mainly management support-type positions from its defense and space division as it seeks to reduce costs.
Of the 2,043 positions to be cut, 1,128 will come from Airbus' space systems business, the European aircraft maker said.
The cuts in all amount to around 5% of the division's workforce and will predominately take place in Germany, France and the U.K.
Airbus said that it expects the reductions will be complete by mid-2026.
The company added that it will work with social partners to limit any impacts of the job cuts.
Write to Pierre Bertrand at pierre.bertrand@wsj.com
(END) Dow Jones Newswires
December 05, 2024 03:08 ET (08:08 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.