Airbus restructuring will mean huge job cuts – Gulf Today

SourceGulf Today

Airbus restructuring will mean huge job cuts 4 hours ago This photo is used for illustrative purpose. Airbus was finalising an imminent restructuring plan expected to include thousands of job cuts on Monday as its chief executive confirmed plans to hold output down by 40% for two years. Europe’s largest planemaker could set out its largest ever reorganisation plan by Wednesday, union sources said ahead of meetings early this week with Airbus, which declined to comment. Airbus needs to move swiftly to counter the damage caused by a drop of some 40% in its 55-billion-euro jetliner business during the coronavirus crisis, industry sources say. It has said it will announce job plans by the end of July, but needs to brief unions and governments on any major overhaul before a two-week “quiet period” ahead of more...

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