Airbus confirms 15,000 job cuts as it begins largest-ever restructure

'Airbus is facing the gravest crisis this industry has ever experienced,' says CEO Guillaume Faury
Airbus, Airbus cuts, Airbus job cuts

Airbus has confirmed that around 15,000 jobs will be cut from its global workforce by the middle of next year, mainly in Europe, in order to protect the planemaker from the coronavirus crisis.

“With air traffic not expected to recover to pre-Covid levels before 2023 and potentially as late as 2025, Airbus now needs to take additional measures to reflect the post Covid-19 industry outlook,” the company said in a statement.

Airbus will lay off 5,000 people in France, 5,100 in Germany, 1,700 in the UK, 900 in Spain and 1,300 across its other sites around the world.

Europe’s airframer is cutting its output by 40% for the next two years and does not expect to return to normal levels in 2025. Its restructuring comes as the company made a €481 million ($522 million) loss in the first quarter of this year after the pandemic hit demand for new planes.

Airbus said that while compulsory actions cannot be ruled out, the business will offer voluntary lay-offs, early retirement, and long-term partial unemployment schemes.

“Airbus is facing the gravest crisis this industry has ever experienced,” said Airbus CEO Guillaume Faury.

“The measures we have taken so far have enabled us to absorb the initial shock of this global pandemic. Now, we must ensure that we can sustain our enterprise and emerge from the crisis as a healthy, global aerospace leader, adjusting to the overwhelming challenges of our customers. To confront that reality, we must now adopt more far-reaching measures.”

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