Finance Fusion Network
  • Investing
  • Latest News
  • Editor’s Pick
  • Economy
  • Investing
  • Latest News
  • Editor’s Pick
  • Economy
No Result
View All Result
Finance Fusion Network
No Result
View All Result

Airbus to cut 2,043 jobs in Defence and Space, sources say

by
December 4, 2024
in Investing
0
Airbus to cut 2,043 jobs in Defence and Space, sources say

By Tim Hepher

PARIS (Reuters) -Airbus is cutting 2,043 jobs in its Defence & Space businesses, or 6% of the divisional workforce, drawing back slightly from an earlier target of up to 2,500 job reductions, two people familiar with the matter said on Wednesday.

More than half the cuts – affecting 1,128 jobs – will fall in the Space Systems business following 1.5 billion euros ($1.58 billion) of recent writedowns, they told Reuters, asking not to be named.

An Airbus spokesperson declined to comment on the figures, provided to unions in a briefing.

Airbus in October announced plans to cut up to 2,500 jobs in Defence and Space, or 7% of the workforce, after heavy losses in its satellites business led by the troubled OneSat programme.

The European aerospace group has said it aims to carry out the cuts by mid-2026 but will hold off taking an immediate restructuring charge pending talks with unions.

In the plans outlined to unions on Wednesday, Airbus plans to cut 250 jobs in its Air Power or combat aircraft sub-division and 47 in Connected Intelligence, the sources said. The divisional headquarters will shed 618 posts, they added.

Germany will bear the largest share of the overall cuts with 689 positions affected, followed by France with 540, Britain with 477, Spain with 303 and other non-core nations with 34.

($1 = 0.9489 euros)

This post appeared first on investing.com
Previous Post

Senators getting secret briefing on Chinese Salt Typhoon telecom hacking

Next Post

Germany’s DAX closes above 20,000 mark; France’s no-confidence vote eyed

Next Post
Germany’s DAX closes above 20,000 mark; France’s no-confidence vote eyed

Germany’s DAX closes above 20,000 mark; France’s no-confidence vote eyed

  • Trending
  • Comments
  • Latest
Elon Musk connects with indie Andrew Yang on billionaire former Trump ally’s third party push

Elon Musk connects with indie Andrew Yang on billionaire former Trump ally’s third party push

July 8, 2025
DAVID MARCUS: Public broadcasting’s purpose has passed. It’s time to pull the plug

DAVID MARCUS: Public broadcasting’s purpose has passed. It’s time to pull the plug

February 7, 2025
Analysis-To weather Trump, emerging market investors look to the frontier

Analysis-To weather Trump, emerging market investors look to the frontier

January 27, 2025
Over 158 million Americans voted in 2024 as Trump reclaimed the White House

Over 158 million Americans voted in 2024 as Trump reclaimed the White House

July 7, 2025
Trump gave Maduro ultimatum to flee Venezuela as land operations loom: report

Trump gave Maduro ultimatum to flee Venezuela as land operations loom: report

0
Harris campaign officials explain what went wrong –  and what Trump did right: report

Harris campaign officials explain what went wrong – and what Trump did right: report

0
New Republican Governors Association chair says ‘focus’ is on helping Trump get ‘off to a strong start’

New Republican Governors Association chair says ‘focus’ is on helping Trump get ‘off to a strong start’

0
NVIDIA Corporation (NASDAQ:NVDA) shares fell roughly 3%

NVIDIA Corporation (NASDAQ:NVDA) shares fell roughly 3%

0
Trump gave Maduro ultimatum to flee Venezuela as land operations loom: report

Trump gave Maduro ultimatum to flee Venezuela as land operations loom: report

December 1, 2025
Trump says ‘don’t read anything into it’ when asked about declaring Venezuela’s airspace closed

Trump says ‘don’t read anything into it’ when asked about declaring Venezuela’s airspace closed

December 1, 2025
Trump envoy Steve Witkoff heads to Moscow as Ukraine peace talks gain momentum

Trump envoy Steve Witkoff heads to Moscow as Ukraine peace talks gain momentum

December 1, 2025
Ukraine peace talks productive as ex-government official says country rethinking ‘uncompromising’ stance

Ukraine peace talks productive as ex-government official says country rethinking ‘uncompromising’ stance

December 1, 2025

    Fill Out & Get More Relevant News

    Stay ahead of the market and unlock exclusive trading insights & timely news. We value your privacy - your information is secure, and you can unsubscribe anytime. Gain an edge with hand-picked trading opportunities, stay informed with market-moving updates, and learn from expert tips & strategies.

    Recent News

    Trump gave Maduro ultimatum to flee Venezuela as land operations loom: report

    Trump gave Maduro ultimatum to flee Venezuela as land operations loom: report

    December 1, 2025
    Trump says ‘don’t read anything into it’ when asked about declaring Venezuela’s airspace closed

    Trump says ‘don’t read anything into it’ when asked about declaring Venezuela’s airspace closed

    December 1, 2025
    Trump envoy Steve Witkoff heads to Moscow as Ukraine peace talks gain momentum

    Trump envoy Steve Witkoff heads to Moscow as Ukraine peace talks gain momentum

    December 1, 2025
    Ukraine peace talks productive as ex-government official says country rethinking ‘uncompromising’ stance

    Ukraine peace talks productive as ex-government official says country rethinking ‘uncompromising’ stance

    December 1, 2025

    Top News

    Trump gave Maduro ultimatum to flee Venezuela as land operations loom: report

    Trump gave Maduro ultimatum to flee Venezuela as land operations loom: report

    December 1, 2025
    Trump says ‘don’t read anything into it’ when asked about declaring Venezuela’s airspace closed

    Trump says ‘don’t read anything into it’ when asked about declaring Venezuela’s airspace closed

    December 1, 2025

    Latest News

    • Trump gave Maduro ultimatum to flee Venezuela as land operations loom: report
    • Trump says ‘don’t read anything into it’ when asked about declaring Venezuela’s airspace closed
    • Trump envoy Steve Witkoff heads to Moscow as Ukraine peace talks gain momentum

    About Finance Fusion Network

    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Copyright © 2024 Financefusionnetwork.com. All Rights Reserved.

    No Result
    View All Result
    • Investing
    • Latest News
    • Editor’s Pick
    • Economy

    Copyright © 2024 Financefusionnetwork.com. All Rights Reserved.