Restructuring at Airbus puts 780 jobs at risk: report

November 23, 2016 2:26 AM EST

Airbus's logo is seen during Japan Aerospace 2016 air show in Tokyo, Japan, October 12, 2016. REUTERS/Kim Kyung-Hoon


Find out which companies are about to raise their dividend well before the news hits the Street with StreetInsider.com's Dividend Insider Elite. Sign-up for a FREE trial here.

PARIS (Reuters) - Restructuring plans at planemaker Airbus (NYSE: AIR) could result in 780 job cuts, French business newspaper Les Echos reported on Wednesday, citing an estimate from the CFTC trade union.

Airbus Group in September announced it would merge with its planemaking unit, in a move aimed at reducing bureaucracy and simplifying its brand.

The CFTC union said that various Airbus works council groups had already been contacted over impending job reductions as a result of the plan, with 780 job cuts envisaged.

"With respect to the ongoing...process and in absence of any decision, we do not comment on any speculation in the media," an Airbus spokesman said when asked about the report.

(Reporting by Sudip Kar-Gupta and Julien Ponthus)



Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In






Related Categories

Reuters

Related Entities

Layoffs

Add Your Comment