Airbus is to cut 477 jobs in the UK as the planemaker exits its space business and tries to cut costs.
More than 2,000 jobs – 5% of its workforce – will be lost globally by mid-2026.
The firm said no mandatory job cuts are planned, adding that “almost all of the positions affected are not related to specific projects or programs.
The cuts come as the firm’s profits fall even as its sales increase, with the aircraft maker Admitting in July that it was struggling with “bottlenecks” in its supply chain..
It told the BBC at the time that it had “more demand than capacity to supply” and admitted it was falling behind on orders.
The company said Wednesday evening that it wanted to reduce its “fixed cost base” and that it would “work with its social partners to limit the impact by implementing all available social measures.” will”.
The space arm of its business will face cuts, with 1,128 jobs out of the department.
Another 618 jobs will be cut from its headquarters, 250 from its Air Power Department, and 47 from its attached Intelligence Department.
Job cuts will also be spread geographically, mostly in Western Europe:
- Germany – 689
- France – 540
- Great Britain – 477
- Spain – 303
- Rest of the world – 34
The job cuts come as Airbus profits fell 22% to £1.8bn even as sales rose 7% to £44.5bn in its most recent results, covering the nine months to 30 October.
Its low profit margins mean that relatively small increases in costs can hurt profits.
This is not the first time Airbus has had to cut staff in the past few years.
In 2020, It announced 15,000 job cuts globally and 1,700 in the UK in particular. As the pandemic grounded flights, profits for aircraft manufacturers and airlines suffered.
The Unite union criticized the decision at the time as “another act of industrial sabotage” against the UK’s aerospace sector.