European aircraft manufacturer Airbus to lay off 15,000 employees in its history’s most comprehensive restructuring plan

Airbus lay off employees

Airbus lay off employees: Airbus SE is launching the most comprehensive restructuring in its history to overcome the crisis caused by the coronavirus pandemic. Within these efforts, the company has prepared plans, including layoff of 15,000 employees.

As Airbus cant handle the economic brunt, due to decline in air travel, the aircraft giant announced the move on June 30, calling it the biggest downsizing in the Company’s history.

Majority of the workers will be from European factories. Numbers are 5,000 in France, 5,100 in Germany, 900 in Spain, 1,700 in the UK and 1,300 at other locations. The layoffs will be implemented by the summer of next year. Discussions and consultations are already underway and  implementation agreements will be finalized soon.

Airbus lay off employees
Airbus lay off employees

The European aircraft manufacturing company will dismiss more than 10,000 employees at its bases, as a part of an 11 percent global employment cut on Tuesday. Company CEO Guillaume Faury stated that; due to the dramatic drop in aircraft demand, the firm’s production would be 40 percent lower than expected for the upcoming two-years period.

By mid-2021, Airbus will lay off 1,700 in the UK, 900 in Spain and around 1,300 in other countries. Faury added that voluntary measures such as early retirement will be the main part of this process and will resort to mandatory cuts as a last resort.

These plans will be subject to agreement with the relevant trade unions, and the French government is strongly opposed to these plans. The French Ministry of Finance said in a statement that the company should do everything it can to limit forced layoffs.

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