European aerospace giant Airbus said today it plans to cut 15,000 jobs from its payroll by next year as a result of the coronavirus pandemic.
The manufacturer saw a steep decline in new orders and airlines are negotiating to delay, defer or cancel existing orders on its books as the demand for air travel tanked. Its production rate for new commercial planes has dropped by a third in recent months.
Airbus said it plans to cut 5,100 jobs in Germany, 5,000 in France, 1,700 in the U.K., 900 in Spain and 1,300 jobs elsewhere. The actual number will depend on an agreement between the company and its unions.
“Airbus is facing the gravest crisis this industry has ever experienced,” said Airbus CEO Guillaume Faury. “Now, we must ensure that we can sustain our enterprise and emerge from the crisis as a healthy, global aerospace leader, adjusting to the overwhelming challenges of our customers. To confront that reality, we must now adopt more far-reaching measures.”
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