PARIS --- European planemaker Airbus will do its best to cut costs without resorting to compulsory redundancies, but it cannot guarantee they won’t happen, CEO Guillaume Faury told French radio station RTL on Tuesday.
With air travel at a fraction of its normal level due to restrictions and travellers’ fears related to the COVID-19 pandemic, airlines have slowed deliveries of new aircraft.
Airbus has said it needs to shed 15,000 posts worldwide.
“The crisis is existential. Our life as a business is potentially at risk if we don’t take the right measures. We are taking them,” Faury said. “The situation is so serious, and we are faced with so much uncertainty, that I think no one can guarantee there won’t be compulsory redundancies if we’re to adapt to the situation, especially if it evolves further.” (end of excerpt)
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