Airbus announces 2,300 job cuts in defense and space division

European planemaker Airbus announced that it plans to cut 2,362 jobs across several countries by the end of next year.
Its Germany-based subsidiary, Defence and Space, has said the job cuts are the result of its “restructuring”, after suffering major financial losses, due to “flat space market and postponed contracts on the defense side”.
Under the reforms, 2,362 positions are expected to be eliminated: 829 in Germany, 357 in the United Kingdom, 630 in Spain, 404 in France and 142 in other countries.
“Airbus Defence and Space will provide updates on its plans and continues a constructive dialogue with employee representatives”, the company said, and added: “Further financial implications are under assessment and will be communicated at a later stage”.
Last week, Airbus reported a net loss of €1.36 billion for 2019. The loss comes after the company was hit by a €3.6 billion fine in a criminal settlement with the US, UK and French authorities over a bribery scandal, as well as for extra development costs for the A400M transport aircraft. The company, however, reported that otherwise, it saw a record year for aircraft deliveries.