Airbus to cut up to 2,500 jobs in defence and aerospace division [Yahoo! Finance]
AIRBUS SE UNSP/ADR (EADSY)
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Source: Yahoo! Finance
Airbus' Defence and Space division, which is headquartered in Germany, employs almost 35,000 people across Europe. The multinational Airbus space flight division recorded write-downs of €989 million ($1.1 billion) in the first half of the year, which had a negative impact on the Airbus Group's interim balance sheet. According to the company, it is in talks with trade unions at the company about the job cuts. When presenting the half-year results, Airbus chief executive Guillaume Faury referred to the major challenges in the space business and said the company would not tackle the roots of the issue. Recommended Stories
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