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Airbus to restructure defense unit as headwinds hit orders

Airbus SE is starting discussions with employee representatives about potential cost-cutting measures as it seeks to restructure its defense and space business.

"While the underlying business perspectives, especially in our core business, remain solid, our division has had to cope with unexpected headwinds over the last three years impacting order intake, EBIT and overall performance," said Airbus Defence and Space GmbH CEO Dirk Hoke in a Dec. 17 statement.

Airbus said it will provide an update to its restructuring plans in due course.