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COVID-19: Airbus Considering Permanent Jobs Cuts

Airbus is preparing for permanent job cuts after warning unions that it needs to rein in production amid a collapse in demand, Bloomberg News has reported. The number of positions to be eliminated hasn’t yet been decided.

Discussions have begun with labor groups in Germany, France and Spain, the report added.  It may take months to arrive at a final figure for redundancies, which will depend on the depth of the aerospace downturn and negotiations with labor unions.

The plane maker’s plan to cut jobs follows it slashing  production goals by more than a third following the outbreak of the disease.  The company had  furloughed 6,000 workers because of the expected drop in demand for new planes.

“The prospect of job losses across the aerospace industry has been rumbling around now for at least a month,” said Sandy Morris, an analyst at Jefferies. “Aircraft deliveries cannot come down by 35% without there being consequences.”

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