Restructuring at Airbus puts 780 jobs at risk: report
Airbus's logo is seen during Japan Aerospace 2016 air show in Tokyo, Japan, October 12, 2016. REUTERS/Kim Kyung-Hoon
Get Alerts AIR Hot Sheet
Join SI Premium – FREE
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
- Japan flags 'speculative' yen moves, signals chance of intervention
- South Korea's ambassador to Australia steps down amid investigation controversy
- South Korea hopes new speed train links will help boost birthrate
Create E-mail Alert Related Categories
ReutersRelated Entities
LayoffsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!