Airbus will cut 477 jobs in Britain and 2,000 worldwide by mid-2026. This represents 5% of the total workforce.
Aeronautics and Space Company is cutting costs to reduce its losses, despite a rise in sales.
The majority of job cuts will occur in the space division. 1,128 jobs will be eliminated, and 618 from the headquarters. The company will cut jobs in its connected intelligence and air power departments.
The highest number of job cuts will be in Western Europe, with 689 jobs in Germany, followed by 540 in France and 303 in Spain, as well as 34 in the rest of world.
The reduction in headcount is lower than anticipated. The firm announced in October that it could lose 2,500 jobs.
Mike Schoellhorn at the time, the CEO of Airbus’s second largest division in terms of revenue, said the company needed to act in an “increasingly challenging space market”.
He said in a press release: “This means we have to be faster, leaner, and more competitive.”
Airbus’ profits dropped to PS1.8bn in the nine-month period ending October, despite an increase in sales to PS44.5bn.
The company has said that it does not plan to make compulsory redundancies and that nearly all the affected roles are not related to specific projects or programmes.
The firm has announced that by 2020 it will be deploying 15,000 people worldwide, including 1,700 employees in the UK. This is due to the pandemic’s impact on profits.
Airbus was contacted to get a comment.
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