Working With The Company’s European Works Council On The Issue

Airbus Defense and Space has entered the consultation process with the company’s European works council on the division’s planned restructuring. While the underlying business perspectives especially in the core business remain solid, these steps became necessary after the division achieved a book-to-bill ratio below 1 for the third year in a row, mainly caused by a flat space market and postponed contracts on the defence side.

The plans presented to the employee representatives foresee the reduction of 2,362 positions through end of 2021, including 829 in Germany, 357 in UK, 630 in Spain, 404 in France and 142 in other countries. These efforts will be supported by a reinforced profitability program and further measures to increase long-term competitiveness and safeguard the division’s future positioning.

The need for restructuring was first announced in December 2019 and emphasized also during the company’s Annual Press Conference in Toulouse on February 13. Airbus Defence and Space will provide updates on its plans and continues a constructive dialogue with employee representatives. Further financial implications are under assessment and will be communicated at a later stage.

(Source: Airbus news release)

FMI: www.airbus.com