Airbus to Cut Jobs as Plane Orders Slump
Reuters
European plane maker Airbus said it will cut up to 1,000 jobs, or 2.2% of its work force, amid a slump in airliner demand.
The Boeing Co. rival said the reductions will be made by voluntary-retirement packages and attrition rather than direct layoffs.
With the termination of part-time and temporary work contracts and the transfer of jobs to subcontractors, the company said it hoped to save a total of $309 million in employment costs. Airbus said it could maintain deliveries of aircraft at 300 planes in 2003--the year deliveries are expected to hit a low.
