EADS: CEO Says Restructuring Plans Will Involve Job Cuts (excerpt)
(Source: Wall Street Journal; published Nov. 12, 2013)
PARIS -- Job cuts stemming from the planned restructuring of European Aeronautic Defence & Space Co. will mainly affect the group's defense, security and space businesses that are being molded together, the company's chief executive told employee representatives Tuesday.

Faced with shrinking government spending on defense and space, the company said this year that it would have to reshape its profile in these areas to eliminate overlaps, create synergies and prevent an erosion of its competitiveness.

But Chief Executive Tom Enders stopped short of providing any details during a special meeting of the company's European works committee, according to labor representatives who took part in the meeting at the headquarters of Airbus, EADS's commercial aircraft unit, in Toulouse, France. (end of excerpt)


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