Airbus to cut up to 2,500 jobs in defence and space unit, says source

Airbus plans to cut up to 2,500 jobs in its defence and space division, according to an AFP source.

This comes after the world's largest aircraft manufacturer reported a drop in second-quarter profits in its recent earnings report, published at the end of July.

Airbus said earlier in the year that it was expecting its adjusted earnings before interest and tax to come in at around €5.5 billion for the full year, down from a previous estimate of €6.5 billion to €7 billion.

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The company blamed supply chain issues and additional costs in its space unit for the underwhelming results.

Airbus has yet to respond to requests for comment.

Meanwhile, the share price of Airbus was down 0.63% at €134.90 in daily trading, as of around 12h00 CEST.