Airbus to cut 15,000 jobs as airline battles coronavirus fallout
The airline says travel is not expected to return to pre-crisis levels before 2023 at the earliest
30 June 2020 - 22:34
Airbus embarked on the most extensive restructuring in its history, setting plans to cut 15,000 jobs worldwide to steer the planemaker through the crisis brought on by the coronavirus pandemic.
The European manufacturer will eliminate more than 10,000 positions across its main bases in Germany and France, part of an 11% reduction in global headcount, according to a statement on Tuesday. CEO Guillaume Faury has said the company’s output will be 40% lower than expected for two years due to a dramatic slump in demand for aircraft, and has previously warned it is bleeding cash...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.