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.

Under French law, Toulouse-based Airbus cannot disclose restructuring plans internally before consulting trade unions through a formal exercise not expected before the end of May. A meeting with unions is scheduled for Thursday to discuss progress on furlough schemes, French union sources said. More temporary furloughs could be announced in the coming week.

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.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Airbus examining restructuring including redundancies: sourcesAirbus is drawing up plans for restructuring involving 'deep' job cuts, but has not taken a final decision, industry sources said.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Airbus examining restructuring including redundancies: sourcesAirbus is drawing up plans for restructuring involving 'deep' job cuts, but has not taken a final decision, industry sources said.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Nissan plans US$2.8b in cuts as part of restructuring plan[TOKYO] Nissan Motor Co plans to cut US$2.8 billion in annual fixed costs as part of its restructuring plan as it braces for a drop in sales that could complicate its recovery from years of poor profitability, Bloomberg News reported on Wednesday. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »