Airbus to eliminate 2,500 jobs in its space and defense divisions
Airbus has decided that through 2026 it will eliminate 2,500 jobs in its space and defense divisions.
The Airbus cuts come just months after it said in its second-quarter earnings report that the space division was affecting its financial performance. In those earnings, it took a charge of 989 million euros ($1.08 billion) against the space business, relating to an audit of costs in the division and projected lower revenues.
According the company’s press release, the cuts will be targeting what appears to be a bloated management structure.
Intended measures will include creating a more effective and efficient organisational structure for the Division, especially with regard to headquartered functions.
The company does not plan to lay off anyone against their will. Instead, it will work out a buy-out program, the details of which are not yet known, that will encourage employees to leave voluntarily.
The issues here are probably related to the failure of the Ariane-6 rocket, which though now operational is too expensive to compete effectively in the modern launch market. Though it is built by ArianeGroup, a joint partnership of Airbus and Safran, its losses will percolate back to Airbus itself. That the cuts will target upper management also makes sense. Why does Airbus’s space division need a large payroll at its headquarters if it has shifted its space operations to the subsidiary ArianeGroup?
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The print edition can be purchased at Amazon or from any other book seller. If you want an autographed copy the price is $60 for the hardback and $45 for the paperback, plus $8 shipping for each. Go here for purchasing details. The ebook is available everywhere for $5.99 (before discount) at amazon, or direct from my ebook publisher, ebookit. If you buy it from ebookit you don't support the big tech companies and the author gets a bigger cut much sooner.
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"Not simply about one mission, [Genesis] is also the history of America's quest for the moon... Zimmerman has done a masterful job of tying disparate events together into a solid account of one of America's greatest human triumphs."--San Antonio Express-News
Airbus has decided that through 2026 it will eliminate 2,500 jobs in its space and defense divisions.
The Airbus cuts come just months after it said in its second-quarter earnings report that the space division was affecting its financial performance. In those earnings, it took a charge of 989 million euros ($1.08 billion) against the space business, relating to an audit of costs in the division and projected lower revenues.
According the company’s press release, the cuts will be targeting what appears to be a bloated management structure.
Intended measures will include creating a more effective and efficient organisational structure for the Division, especially with regard to headquartered functions.
The company does not plan to lay off anyone against their will. Instead, it will work out a buy-out program, the details of which are not yet known, that will encourage employees to leave voluntarily.
The issues here are probably related to the failure of the Ariane-6 rocket, which though now operational is too expensive to compete effectively in the modern launch market. Though it is built by ArianeGroup, a joint partnership of Airbus and Safran, its losses will percolate back to Airbus itself. That the cuts will target upper management also makes sense. Why does Airbus’s space division need a large payroll at its headquarters if it has shifted its space operations to the subsidiary ArianeGroup?
On Christmas Eve 1968 three Americans became the first humans to visit another world. What they did to celebrate was unexpected and profound, and will be remembered throughout all human history. Genesis: the Story of Apollo 8, Robert Zimmerman's classic history of humanity's first journey to another world, tells that story, and it is now available as both an ebook and an audiobook, both with a foreword by Valerie Anders and a new introduction by Robert Zimmerman.
The print edition can be purchased at Amazon or from any other book seller. If you want an autographed copy the price is $60 for the hardback and $45 for the paperback, plus $8 shipping for each. Go here for purchasing details. The ebook is available everywhere for $5.99 (before discount) at amazon, or direct from my ebook publisher, ebookit. If you buy it from ebookit you don't support the big tech companies and the author gets a bigger cut much sooner.
The audiobook is also available at all these vendors, and is also free with a 30-day trial membership to Audible.
"Not simply about one mission, [Genesis] is also the history of America's quest for the moon... Zimmerman has done a masterful job of tying disparate events together into a solid account of one of America's greatest human triumphs."--San Antonio Express-News
The industrial part of the MIC is at the mercy of gummint spending. While military budgets in the west have never been bigger, most of it is absorbed by the administrative blob and never makes it to the plane and bomb factories. This wont get better. Ever.
“The company does not plan to lay off anyone against their will. Instead, it will work out a buy-out program,”
This is likely due to employment laws in France (& EU) and strong Union presence.