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ArianeGroup to cut 2,300 jobs as orders shrink

ArianeGroup. [Photo: AFP]

European aerospace and defence firm ArianeGroup is to cut 2,300 jobs by 2022 as orders tumble and development of a new rocket nears its end, management said Monday.

The company said it faced tough competition from US space companies whose business is "bolstered by a large volume of institutional orders".

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