Airbus, stained in trouble, is preparing to announce up to 10,000 job cuts at key operating sites across Europe. Workers in France and Germany are likely to be affected most with this prospective job cuts, in addition to it around 1,500 job losses are expected at Airbus plants in Britain and 500 in Spain. However, it is also learnt that Airbus may force contractors to share the pain of cuts which could potentially provoke labor unrest.
In the meanwhile, Airbus unions have threatened strikes over job cuts at the troubled company. This has clearly down played efforts by European governments to calm the fears of its 55,000 staff on the eve of a key restructuring plan. According to reports Germany would lose about 3,500 jobs and that about 4,500 would be trimmed in France in a cost-cutting effort.
The company’s ambitious plan to cut 2 billion euros ($2.6 billion) in annual costs is expected to trigger job losses and the sale of up to four factories in France and Germany, while keeping jobs in Spain and Britain at risk. The plan, which is likely to be disclosed to Airbus’s European works council today, is apparently aimed at improving EADS’s operating profits by 2.1 billion euro in 2010 and escalating the group’s cumulative cash flow by 5 billion euro ($8.3 billion) between 2007 and 2010.
The restructuring plan was decided at a board meeting earlier this week and in an official communique the group said that the board fully supports the EADS and Airbus management in realizing the plan.
Comments
That suck all those job they need to fix that situation
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