Airbus announces largest layoff plan in history
Airbus announced its largest layoff plan in history in response to the COVID-19 crisis, according to the company's official website.
The company, co-established by Germany, France, the UK and Spain, announced on Tuesday it would cut approximately 15,000 positions across Airbus' global workforce no later than summer 2021.
From this autumn to next summer, Airbus will cut 11 percent of the company's total employees, with 5,100 in Germany, 5,000 in France, 1,700 in the UK, 900 in Spain and 1,300 in the rest of the world.
The commercial activity of Airbus has dropped by close to 40 percent in recent months, and commercial aircraft production rates have been adapted accordingly, the company said.
Airbus' measure to reduce its workforce globally is in response to the prediction global air traffic is not expected to recover to pre-COVID-19 levels before 2023 and potentially as late as 2025.
