Europe’s Airbus to lay off 2,500 as it tries to turn around its space and defense division

AP Business Writer

European aircraft maker and Boeing rival Airbus said it’s laying off 2,500 workers as it tries to turnaround its struggling defense and space division. Airbus said it would implement other organizational changes as it faces ongoing challenges in the defense and space sector, including disrupted supply chains, the rapid evolution of warfare tactics and increasing cost pressures. The announcement comes after the company already began making organizational changes in the division last year. The company’s defense and space business struggled last year, notably taking a 477 million euro ($511 million) loss on the long-troubled A400M military transport plane.