Airbus Plans to Cut 15,000 Jobs Globally Due to Coronavirus Pressures

By Kimberly Chin

Airbus SE said Tuesday it expects to cut roughly 15,000 positions from its global workforce by the summer of 2021, as the company faces continued pressure from reduced demand for commercial aircraft due to reduced travel stemming from the coronavirus pandemic.

The European airline manufacturer said activity in its commercial aircraft segment fell by roughly 40% in the past few months. It has adjusted its commercial aircraft production rates accordingly, Airbus said.

"With air traffic not expected to recover to pre-Covid levels before 2023 and potentially as late as 2025, Airbus now needs to take additional measures to reflect the post Covid-19 industry outlook," the company said.

Airbus expects to cut 5,000 jobs in France, 5,100 jobs in Germany, 1,700 positions in the U.K. and 900 posts in Spain, in addition to 1,300 positions across its other sites globally.

The company said it aims to cut jobs through measures such as voluntary departures, early retirement and long-term partial unemployment schemes.

Write to Kimberly Chin at [e-mail]

(END) Dow Jones Newswires

June 30, 2020 14:51 ET (18:51 GMT)

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