Airbus examining restructuring including job cuts: Sources

PARIS/TOULOUSE, FRANCE - Airbus is exploring restructuring plans involving the possibility of"deep" job cuts as it braces for a prolonged coronavirus crisis after furloughing thousands of workers, industry sources said, though no decision is imminent.

Chief executive Guillaume Faury is expected to update managers on Thursday after warning staff last month that the firm's survival was at stake due to a slump in demand. "Over the last few weeks, Airbus has implemented a number of financial, operational and social measures in order to adapt to the severe health and economic impact of the Covid-19 crisis,"an Airbus spokesman said.

One insider said any restructuring plan would involve forced redundancies and cutbacks were expected to be deep, though others cautioned it was too early to talk of specific numbers. For now, Airbus is relying on government-backed furlough schemes in France, Germany and Britain to reduce staff costs after earlier asking employees to take 10 days' leave.

Source: News Formal (newsformal.com)

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