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Manufacturing

Airbus to axe thousands of jobs as part of restructure

The aerospace giant has entered into a consultation process

An Airbus A380(Image: Andrew Matthews/PA Wire)

Airbus has announced it's cutting thousands of jobs worldwide, including hundreds in the º£½ÇÊÓÆµ, as part of a planned restructure.

The aerospace giant's defence and space division has entered a consultation process with the company’s European works council.

The company estimates there will be a reduction of 2,362 staff by the end of 2021, including 357 jobs in Britain.

There will also be job 829 job cuts  in Germany, 630 in Spain, 404 in France and 142 in other countries.

In a statement Airbus said: "While the underlying business perspectives especially in the core business remain solid, these steps became necessary after the division achieved a book-to-bill ratio below 1 for the third year in a row, mainly caused by a flat space market and postponed contracts on the defence side."

The reduction in head count will be supported by a reinforced profitability programme and further measures to increase long-term competitiveness and safeguard the division’s future positioning, according to the company.

The need for restructuring was first announced in December 2019 and emphasized during the company’s annual press conference in Toulouse, France, on February 13.

Airbus A400m plane trialing mid-air refueling

Airbus Defence and Space says it will provide updates on its plans and is continuing a "constructive dialogue" with employee representatives.