Technology firm Airbus Space and Defence has warned it is looking to cut hundreds of jobs in the UK.
The company, which employs 4,000 people in the UK alone at bases in Stevenage, Portsmouth and Newport, announced it had entered into consultation process with the company’s European works council on a planned restructuring of the division.
In a statement bosses said:
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 company says 2,362 positions are at risk, including 829 in Germany, 357 in UK, 630 in Spain, 404 in France and 142 in other countries.