Brief: Latecoere to cut one third of jobs in France

Latecoere SA

25/09/2020 09:39

Sept 25 (Reuters) - Latecoere SA  LAEP.PA :
    * SAYS PRESENTS ITS TRANSFORMATION PLAN TO ENSURE LONG TERM
BUSINESS SUSTAINABILITY AND FUTURE DEVELOPMENT IN COVID-19
ENVIRONMENT
    * SAYS PLAN WILL RESULT IN REDUCTION OF 475 POSITIONS OUT OF
1,504
THAT GROUP HAS IN FRANCE AT 31 JULY 2020.
    * SAYS WITH ONSET OF COVID CRISIS IN MARCH 2020, A 40% DROP
IN
PRODUCTION RATES OF OUR MAIN CUSTOMERS RESULTED IN A
CORRESPONDING 40% DECREASE IN GROUP'S ACTIVITY.
    * SAYS THIS IS EXPECTED TO CONTINUE INTO NEXT YEAR, WITH NO
RETURN
TO PRE-COVID LEVELS EXPECTED BEFORE 2025.

Further company coverage:  LAEP.PA 

 (Paris Newsroom)
 ((Benoit.VanOverstraeten@thomsonreuters.com; +3314949 5339;))