Airbus will axe 477 jobs in the UK as the plane maker scales back its space business and tries to trim costs. More than 2,000 jobs - 5% of its workforce - will be lost globally by mid 2026. Compulsory job cuts are not planned,

PARIS (Reuters) - Airbus is cutting 2,043 jobs in its Defence & Space division, compared with its earlier estimate of up to 2,500 job reductions, two people familiar with the matter said. More than half the cuts - affecting 1,128 jobs - will fall in the Space Systems business, they added, asking not to be named.

Airbus announced just over 2,000 job cuts in Defence and Space, or about 5% of its second-largest division, as it reels from U.S. competition in the satellites sector but the cuts were not as severe as the European group had first warned.

Airbus SE said the job cuts it announced in mid October will result in 2,043 reductions, more than half of which will occur at its ailing space systems division.

Airbus plans to axe almost 500 jobs in Britain as it shrinks a space division that has been haemorrhaging satellite orders to Elon Musk’s SpaceX. The company said that 477 positions will disappear in Britain as a result of a Europe-wide restructuring of its space and defence arm,

Airbus announced plans to cut up to 2,500 jobs in Defence and Space, or 7 per cent of the work force, after €1.5 billion of writedowns in satellites led by troubled OneSat