Airbus to Cut 2,000 Jobs by 2026

Plane maker Airbus will axe 477 jobs in the UK as the company scales back its space business and tries to trim costs.

According to the BBC, more than 2,000 jobs – or five per cent of its workforce – will be lost globally by mid 2026.

The cuts come as the firm’s profits fall even as its sales rise, with the plane maker admitting in July it was struggling with bottlenecks in its supply chain.

The space arm of its business will take the brunt of cuts, with over 1,000 jobs to go from that department. A further 618 jobs will be cut from its headquarters.

The job cuts will also be spread out geographically, with the bulk occurring in Western Europe.