Airbus, a major European aircraft manufacturer and Boeing rival, is restructuring its struggling defense and space division, leading to the layoff of 2,500 workers. The company is facing challenges such as disrupted supply chains, warfare tactic changes, and rising costs in the defense and space sector.
CEO Mike Schoellhorn aims to transform the division into a more competitive player in the market by streamlining operations and increasing efficiency. Despite setbacks in the defense and space business, Airbus has been thriving in commercial airplane orders and deliveries, outperforming Boeing for five consecutive years.
On the other hand, Boeing continues to face troubles, with manufacturing slowdowns and financial losses due to issues with its Max jets. The competition between Airbus and Boeing remains fierce, with Airbus holding a significant order backlog of commercial aircraft.
Despite the challenges, Airbus remains a key player in the aerospace industry, with a workforce of over 150,000 employees worldwide. The future of both companies will depend on their ability to adapt to evolving market demands and overcome current obstacles.
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