Airbus SE logo

AIR - Airbus SE News Story

€101.1 0.3  0.3%

Last Trade - 09/04/21

Sector
Industrials
Size
Large Cap
Market Cap £68.76bn
Enterprise Value £72.40bn
Revenue £43.31bn
Position in Universe 13th / 848

Airbus to avoid redundancies in Germany, France, Britain

Thu 4th March, 2021 12:12pm
BERLIN, March 4 (Reuters) - Airbus  AIR.PA  will make no
forced redundancies in France, Germany and Britain, the European
planemaker said on Thursday, as it reached an agreement with a
German trade union to protect jobs until the end of 2023.
    A spokesman for Airbus, which has been hit hard by slumping
demand for aircraft in the coronavirus crisis, said other
measures - such as voluntary redundancy programmes, early
retirement or internal transfers - had been agreed instead.
    Negotiations started later in Spain, the spokesman said.
    Airbus has been struggling to reach targets to cut staff as
part of a restructuring plan affecting up to 15,000 jobs,
especially at its headquarters in France and in German plants,
sources had earlier told Reuters.
    The IG Metall union and works council representing Airbus
workers in Germany said they had agreed with the aircraft
manufacturer on an overall package to safeguard employment and
sites in the country until the end of 2023.
    About 1,300 employees at Airbus Germany and 1,000 at Premium
Aerotec, a subsidiary that makes large plane components, took
voluntary redundancy between November and February, Holger
Junge, head of the group works council, told a news conference.
    "Production figures have stabilised," Junge said. "But we
have not overcome the crisis."
    Airbus agreed to avoid further job cuts through short-time
work and reducing hours by up to 20% from 2022, he said. Airbus
employs about 55,000 people in Germany.
    In January, Airbus stuck to ambitions for a partial recovery
in jet production later this year, although there is speculation
that it may have to delay that due to extended coronavirus
lockdowns in Europe.  urn:newsml:reuters.com:*:nL1N2JJ1DU
    

 (Reporting by Christina Amann and Alexander Huebner, writing by
Emma Thomasson, editing by Thomas Escritt)
 ((+4930220133580; Reuters Messaging:
emma.thomasson.thomsonreuters.com@reuters.net))
© Stockopedia 2021, Refinitiv, Share Data Services.
This site cannot substitute for professional investment advice or independent factual verification. To use it, you must accept our Terms of Use, Privacy and Disclaimer policies.