Press: Airbus could axe 10,000 jobs

European plane maker Airbus, a subsidiary of EADS could announce Tuesday as many as 10,000 jobs cuts, according to French newspaper Les Echos. Airbus Chief Executive Louis Gallois, also co-CEO of EADS, is to put forward on Tuesday the details of the company’s restructuring “Power 8” plan, announced back in October and designed to cut structural costs by 30% and save EUR5 billion by 2010.

Airbus employs 55,000 people in France and Germany, but the job cuts could also impact Airbus’ subcontractors, which employ 30,000 people, Les Echos reported.
——-