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
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...