(Bloomberg) -- Airbus SE said the job cuts it announced in mid October will result in 2,043 reductions, more than half of which will occur at its ailing space systems division.
The measures will be spread between different country divisions, with Germany taking the biggest hit at 689 positions, followed by 540 in France and 477 in the UK, according to a statement on Wednesday. Space Systems will see about 1,128 jobs lost, followed by 618 reductions at headquarters and some at other operations, Airbus said.
The European planemaker is slashing positions after struggling to compete with more nimble players like SpaceX and racking up charges from some programs. Airbus said the aim of the measures is to reduce the fixed cost base, with almost all of the positions affected identified as so-called “overhead positions,” according to the statement.
The cuts, which Airbus said are equivalent to about 5% of the Defence and Space division’s workforce, are slightly lower than the as many as 2,500 reductions that Airbus originally envisioned in October.
Airbus said in June that it would incur charges of about €900 million ($946 million) related to some space programs, citing “complex and sophisticated products” that created development risks.
The company’s main operation is the commercial aircraft subsidiary, which makes planes including the A320 family and larger A330 and A350 models.
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