Airbus to Announce Thousands of Job Cuts Later Today: Reports

TOULOUSE, France --- Airbus is set to announce on Tuesday a restructuring involving thousands of job cuts as it deals with the fallout from impact of the coronavirus crisis, union officials said.

Airbus, which has said it will announce fresh action by the end of July after introducing temporary furloughs, declined to comment. Its shares rose 1%.

Reuters reported on Monday that the company’s bigger-ever plan to shrink operations and staff was imminent.

Industry sources have predicted between 14,000 and 20,000 job cuts, though it remains unclear how much will be achieved through early retirements in Airbus’s 135,000-strong workforce, heavily populated by veterans of its original A320 development.

Unions oppose the cuts.

“Airbus will announce measures that could have strong employment consequences,” CGT union official Xavier Petrachi said, adding the union would oppose outright redundancies. (end of excerpt)

Click here for the full story, on the Reuters website.

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