Airbus Layoffs: European Aerospace Company Plans To Lay Off Around 2,500 Employees in Defence and Space Division After Losses in Its Satellites Business
Airbus plans to lay off 2,500 employees in its Defence and Space division due to financial losses in its satellites business. The layoffs are expected to conclude by mid-2026.
New Delhi, October 17: Airbus reportedly plans to lay off around 2,500 employees in its Defence and Space division after suffering losses in its satellites business. As per reports, the decision follows months of financial struggles within the sector, prompting the European aerospace giant to reconsider its workforce needs. It is possible that the layoffs are a response to Airbus's attempt to cut costs and regain stability in one of its core businesses.
As per a report of Reuters, Airbus has announced that it will be laying off 2,500 employees in its Defence and Space division. The decision came after months of analysis, led by financial setbacks in its satellite business. The company plans to finish the layoffs by the middle of 2026, according to a report of CNN. This timeline suggests that the process will take some time, which will allow the company to carefully manage the changes. Meta Layoffs: Mark Zuckerberg-Run Company Lays Off Employees From WhatsApp, Instagram and More To Reallocate Resources Amid Strategic Goals.
Airbus is a company that designs and manufactures satellites and transporters and has shares in European projects related to missiles, fighter jets, and space launch programmes. The company is headquartered in France, but it also has operations in Germany, Britain, and Spain. Reports suggest that the governments of these four countries have been informed about Airbus's plans to restructure its operations.
The job cuts at Airbus are not the first indication of difficulties for the aircraft manufacturer. Back in June, Airbus reportedly announced that problems with its supply chain had led to a reduction in the number of aircraft it expected to produce this year and the following year. Intel Layoffs: Chipmaker To Let Go Hundreds of Employees in Israel by Last Week of October 2024 as Part of Its USD 10 Billion Cost Reduction Plan.
Airbus's announcement reportedly comes at a time when the global defence and space industry is experiencing significant changes. It brings challenges and new opportunities for companies in the sector. Airbus did not specify which countries would be impacted by the job cuts and it is estimated that approximately 1.7% of its total workforce may be affected by these layoffs.
(The above story first appeared on LatestLY on Oct 17, 2024 03:08 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).