Airbus has announced plans to slash up to 2,500 jobs in its defense and space division, citing a “complex business environment” marked by challenges including rising costs and “rapid changes in warfare.

European aircraft maker and Boeing rival Airbus said it's laying off 2,500 workers as it tries to turnaround its struggling defense and space division.

Airbus announced plans on Wednesday to cut up to 2,500 jobs in its Defence and Space division after spending months taking a deep dive into heavy losses in its satellites business.