New User:

Forgot your password?

Stock Market & Financial Investment News

News Breaks
December 9, 2013
11:29 EDTEADSYEADS says to cut 5,800 positions through the end of 2016
EADS presented a restructuring plan for its future Airbus Defence and Space Division to the European Works Council. This presentation follows a decision by the EADS Board of Directors in July this year to consolidate the defence and space businesses of the Group into one new Division and to rebrand EADS into “Airbus Group”. Overall, EADS plans to reduce 5,800 positions at Airbus DS and in Corporate / Headquarters functions until the end of 2016. Up to 1,500 positions will be offered at Airbus and Eurocopter for redeployment of impacted employees. After non-renewal of temporary contracts (around 1,300) and application of additional voluntary measures, final redundancies are estimated in the range of 1,000 – 1,450 employees, subject to the achievement of the voluntary measures. The Group also intends to enter into negotiations with its works councils to seek agreements on labour cost reductions which could help mitigate the social impact of the restructuring plan.As part of the overall headcount reduction, Corporate functions and services will be slimmed down by around 500 positions. The restructuring plan for the defence and space businesses of the Group will result in a substantial consolidation of sites across Germany, France, Spain and the United Kingdom. For cost and operational reasons, the new Division – Airbus DS – will simplify and consolidate its legal structures.The new Division will start operating at executive level as of January 1, 2014. After the consultation process with the works councils, expected to be concluded by mid-2014, the three entities – Airbus Military, Astrium and Cassidian – will be fully integrated and operational at all levels as Airbus DS. Reference Link
News For EADSY From The Last 14 Days
Check below for free stories on EADSY the last two weeks.
Sign up for a free trial to see the rest of the stories you've been missing.
April 11, 2014
08:22 EDTEADSYAerCap completes 29 aircraft transactions in Q1
Subscribe for More Information

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the disclaimer & terms of use