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14.05.2020

Airbus exploring restructuring plans

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The company’s stocks fell over 1% on the announcement

Stocks impacted: Airbus (AIR)

Europe’s largest aerospace group is exploring restructuring plans involving the possibility of deep job cuts amid the ongoing coronavirus crisis. According to some sources, Airbus could cut 10,000 jobs within days. Apart from other issues, Airbus faces an ageing workforce with an estimated 37% of its 135,000 staff due to retire within a decade. Under French law, Airbus cannot disclose restructuring plans internally before consulting trade union. A meeting with unions is scheduled for today to discuss progress on furlough schemes. At the same time, the company highlighted that no decisions on restructuring and layoffs will be made before the summer.

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