ArianeGroup, the rocket launching joint venture owned by Airbus and Safran, is to trim staff by 2,300 between now and 2022.

ArianeGroup, in a statement, said that the ending of development of its Ariane 6 ‘next generation’ rocket as well as the need to keep Europe’s rocket launch business competitive “compelled ArianeGroup to reduce its capacity by the equivalent of 2,300 full-time jobs by 2022.”

The first flight of the new rocket is currently planned for 2020.

The staff reductions represent a 25 per cent fall in salaried personnel, and a higher percentage of overall Ariane 5 employees, according to reports.

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