EADS to Cut 5,800 Jobs in Defense-Unit Revamp, Union Says
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European Aeronautic, Defence & Space Co. plans to trim 5,800 jobs, marking the steepest cuts in about five years as the parent of Airbus SAS combines space and defense units left reeling from slack government spending.
The reductions will lead to “substantial” consolidation of sites in Germany, France, Spain and the U.K., EADS said today, following an announcement in July that it would merge two divisions to reduce expenses. The measures will be implemented through the end of 2016, with the aim of offering about 1,500 workers other jobs at Airbus and Eurocopter.