Education & Job

Airbus set to announce thousands of job cuts

TOULOUSE:

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, with some sources predicting some 15,000 jobs are to go.

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.

Two sources predicted job cuts of approximately 15,000 people, excluding an additional 2,000-3,000 jobs in defence.

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.

The health of the group is on the agenda for a European works council being held on Tuesday.

The company will brief unions on the status of orders and aircraft cancellations as it prepares to keep production lower than previously planned for up to five years.

Exceptional secrecy surrounds the politically sensitive restructuring affecting jobs in Britain, France, Germany and Spain, the company’s key backers in a fierce contest with U.S. rival Boeing for orders and

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