Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Airbus Defence and Space, the Germany‑based defence and space division of Airbus, announced plans in February 2020 to cut 829 jobs in Germany as part of a wider restructuring programme: Airbus Defence and Space 2020 - EU. The job reductions affect the Defence and Space division and are expected to be implemented over the following two years, with Germany being the most affected country within the group’s European operations.
The restructuring is driven by financial losses and weaker market conditions, notably a flat space market and postponed defence contracts. Additional pressures stem from higher development costs linked to military programmes such as the A400M and a decline in the division’s order intake, which led Airbus to reassess the profitability and sustainability of its defence and space activities.
Airbus stated that the restructuring would be carried out in close cooperation with employee representatives, confirming that discussions were under way with the European works council and that a constructive social dialogue would accompany the implementation of the job cuts in Germany.
Eurofound (2020), Airbus Defence and Space, Internal restructuring in Germany, factsheet number 204506, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/204506.