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Top related persons:
Mike Schoellhorn - 2 Italy's Leonardo - 1 Guillaume Faury - 1 — - 1 ” Schoellhorn - 1 Ted Colbert - 1 Olesya Dmitracova - 1
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Ukraine Broughton U.K Germany France Britain Spain U.S
Top related orgs:
Airbus - 2 Defence - 1 Space - 1 AFP - 1 Space Systems - 1 Thales - 1 London CNN - 1 Boeing - 1

Search resuls for: "Mike Schoellhorn"


2 mentions found


☆ Airbus to cut up to 2,500 jobs in defense and space
  + stars: | 2024-10-16 | by ( ) www.cnbc.com   time to read: +2 min
A logo sits on display outside the Airbus wing assembly factory in Broughton, U.K.Airbus announced plans on Wednesday to cut up to 2,500 jobs in its Defence and Space division, citing a "complex business environment" especially in loss-making satellites. It has been hit by 1.5 billion euros ($1.63 billion) of charges in space systems in recent quarters, led by the high-tech OneSat project, and delays and rising costs in defense. The job cuts, first reported by French news agency AFP, come on top of a more than year-long efficiency review in the defense and space business, code-named ATOM. Airbus has been drawing up specific turnaround plans for its struggling Space Systems business without waiting for the outcome of recent satellite consolidation talks that include Italy's Leonardo as well as France's Thales. Group CEO Guillaume Faury said earlier this year that Airbus was looking at opportunities to create scale in defense, space and particularly satellites where traditional players have been heavily disrupted by the success of new constellations.
Persons: Mike Schoellhorn, Italy's Leonardo, Guillaume Faury Organizations: Airbus, Defence, Space, AFP, Space Systems, Thales, Reuters Locations: Broughton, U.K, Germany, France, Britain, Spain, Ukraine, U.S
☆ Airbus plans to lay off up to 2,500 workers in its defense and space division
  + stars: | 2024-10-16 | by ( Anna Cooban | ) edition.cnn.com   time to read: +2 min
Airbus’ announcement comes against a backdrop of a global defense and space industry in flux, presenting both challenges and opportunities for companies. But large legacy defense firms like Airbus that should benefit from the boom in demand face stiff competition. Boeing said earlier this month that it would slash 10% of its global workforce over the coming months. The company’s own defense business posted a $913 million loss in the three months to the end of June. And in September, Ted Colbert, the head of the unit, called Defense, Space & Security, stepped down.
Persons: Mike Schoellhorn, —, ” Schoellhorn, Ted Colbert, Olesya Dmitracova Organizations: London CNN, Airbus, Boeing, Airbus Defence, Governments, Citi, Defense, Space & Security Locations: Ukraine, United States
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