SpaceWar.com - Your World At War
Airbus Defence and Space to cut over 2,300 jobs
Paris, Feb 19 (AFP) Feb 19, 2020
European plane-maker Airbus said Wednesday it planned to cut 2,362 jobs in its Defence and Space division over the next two years.

Airbus cited a "flat space market and postponed contracts on the defence side" for the decision to cut 829 jobs in Germany, 630 in Spain, 404 in France and 357 in Britain.

A further 142 jobs will be cut in other countries, it said, adding that it was in talks with its European works council on the restructuring.

"Airbus Defence and Space will provide updates on its plans and continues a constructive dialogue with employee representatives," it said in a statement.

The Defence and Space division accounts for 15 percent of the group's revenue.

It posted operating losses of 881 million euros ($951 million) in 2019.

Airbus said that "while the underlying business perspectives, especially in the core business, remain solid", job cuts were necessary after the book-to-bill ratio -- the ratio of orders received to amounts billed -- fell below 1 for the third year in a row.

France-based Airbus last week reported a net loss of 1.36 billion euros in 2019, mainly due to a 3.6-billion-euro fine over a bribery scandal and extra development costs for the A400M transport aircraft.

mra/cb/spm

AIRBUS GROUP


ADVERTISEMENT




Space News from SpaceDaily.com
SPHEREx completes first full sky infrared map of the cosmos
CoDICE instrument returns first-light particle data for IMAP mission
Webb maps carbon rich atmosphere on distorted pulsar planet

24/7 Energy News Coverage
The Quantum Age will be Powered by Fusion
Physicists map axion production paths inside deuterium tritium fusion reactors
Hybrid excitons speed ultrafast energy transfer at 2D organic interface

Military Space News, Nuclear Weapons, Missile Defense
SDA expands Tracking Layer satellite awards and related missile defense contracts
Space Systems Command activates System Delta 80 for assured space access
Rheinmetall ICEYE Space Solutions to provide SAR reconnaissance data to German military

24/7 News Coverage
Philosopher argues AI consciousness may remain unknowable
Climate driven model explores Neanderthal and modern human overlap in Iberia
Economic losses from natural disasters down by a third in 2025: Swiss Re



All rights reserved. Copyright Agence France-Presse. Sections of the information displayed on this page (dispatches, photographs, logos) are protected by intellectual property rights owned by Agence France-Presse. As a consequence, you may not copy, reproduce, modify, transmit, publish, display or in any way commercially exploit any of the content of this section without the prior written consent of Agence France-Presse.