Sage Investment Club

Morris MacMatzen European planemaker Airbus (OTCPK:EADSY) is set to recruit another 13,000 workers in 2023, of which 9,000 jobs would be based in Europe and remaining spread across operations in the U.S. and China. Will Boeing (NYSE:BA) follow suit? Airbus’s (OTCPK:EADSY) newly hired workforce will include software engineers, cloud computing experts, customer engineers, hydrogen engineers, material technicians, operators, data analysts, cyber security experts, robotics experts, and many others. In 2022, the company also added 13,000 jobs to accelerate production of its commercial jets, recover from escalating delivery delays and meet new aircraft demands. Chief Customer Officer Christian Scherer had outlined that airlines have been pushing to secure narrowbody planes as Airbus’s (OTCPK:EADSY) best-selling family of jets, the A320neo, is mostly sold out through 2029. Regarding backlog, Airbus’s (OTCPK:EADSY) total delivery figures came in below expectations with 661 aircraft delivered in 2022, 59 lower than the company initially intended to deliver. Supply chain struggles have added fuel to the problem: a dearth of workers, raw-material shortages and disruption at factories in China because of COVID outbreaks. This hiring spree comes in midst of tech layoffs, where Google, Amazon, Microsoft are all cutting cost via workforce reduction. At the start of the pandemic, Airbus (OTCPK:EADSY) scaled back production and laid off thousands of workers. Overall, SA authors give Airbus a Strong Buy rating. Check out the most recent article by Marketplace author Dhierin Bechai, Airbus: Strong But Blunders On Delivery Target

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