Airbus defense unit plans to cut over 2,300 jobs

by SpeedLux
airbus

Airbus has announced that its defense and space division prepares to cut 2,362 jobs by the end of 2021, due to “a flat space market and postponed contracts on the defense side”.

In a statement, the aircraft maker stated its defense and space unit has entered the consultation process with the firm’s European works council on the division’s planned restructuring.

It said that such these steps are required following “the division achieved a book-to-bill ratio below 1 for three years in a row”.

The plan oversee the decline of 829 posts in Germany, 357 in Britain, 630 in Spain, 404 in France and 141 in other nations, according to the statement.

“These efforts will be supported by a reinforced profitability program and further measures to boost long-term competitiveness and safeguard the division’s future positioning,” Airbus stated.

In 2019, the firm reported a net loss of 1.36 billion euros (1.46 billion U.S. dollars) mostly because of a provision of 3.6 billion euros to cover the settlement of a suspected jet sales corruption case dating back more than a decade ago.

It also attributed the poor performance to an “increasingly challenging” result of its A400M military transport aircraft, which had resulted in a loss of 1.2 billion euros.

On the other hand, the suspension of defense export licences to Saudi Arabia by the German government, prolonged to March 2020, had cost the firm 221 million euros ($239 million).

You may also like

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

SpeedLux

SpeedLux is a high-authority automotive blog providing the latest automotive news and reviews. SpeedLux covers everything related to cars, bikes, and motorcycles, from news and reviews, to troubleshooting guides, tips and tricks, and more. SpeedLux was born in 2009 and we have over 20,000 articles published on our blog. We thank all our readers, as well as our partners, without whom we could not have reached this level.

Subscribe

©2009 – 2024 SpeedLux – Daily Automotive News and Reviews. All Right Reserved.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More