Airbus begins biggest revamp with 15,000 jobs to go

Chief executive officer Guillaume Faury (pic) said the company’s output would be 40% lower than expected for two years due to a dramatic slump in demand for aircraft, and has previously warned it is bleeding cash.

PARIS: Airbus SE embarked on the most extensive restructuring in its history, setting out plans to cut 15,000 civil-aerospace jobs as it attempts to steer through the crisis brought on by the coronavirus pandemic.

The European planemaker will eliminate more than 10,000 positions across its main bases in Germany and France, part of an 11% reduction in global headcount, according to a statement.