Airbus is planning to cut nearly 500 roles in the UK as part of a global cost-cutting move.

The manufacturer is looking to reduce its workforce by more than 2,000 in the next 18 months, although wants to avoid compulsory job cuts. More than half of the reduction is expected to come in its space division.

Airbus employs around 12,000 people in the UK, with major sites at Filton, near Bristol, and Broughton in Lancashire.

The announcement is less severe than had been trailed by the company in October after it revealed writedowns of satellites totalling 1.5bn euros.

There are 689 job cuts expected in Germany, 540 in France and 303 in Spain, with a small number elsewhere.