Airbus Defence and Space reported it had initiated talks with labor representatives regarding plans to reduce employment by over 2,300 through the end of 2021, noting the downsizing is necessary because new orders have trailed revenues for the third consecutive year. More specifically, according to published reports, the downsizing is a consequence of losses with the A400M military transport aircraft program.
In addition to building military aircraft, the group designs and develops space systems, communication-intelligence-security, and unmanned aerial systems.
Airbus is proposing to reduce employment by a total of 2,362 positions, of which 829 would be in Germany, 357 in Great Britain, 630 in Spain, 404 in France, and 141 in other countries. The plan would affect more than 6% of the division's total employment.
The group announced the planned restructuring in December 2019, and re-emphasized the need for cost-saving during its annual earnings presentation earlier this month. It added that "further financial implications are under assessment"
