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Stock impact report

Airbus CEO warns workers it’s bleeding cash and needs cuts [MSN Money]

Boeing Company (The) (BA) 
Last boeing company (the) earnings: 4/29 07:30 am Check Earnings Report
Company Research Source: MSN Money
(Bloomberg) -- Airbus SE chief Guillaume Faury warned employe that the planemaker is “bleeding cash” and needs to quickly cut costs to adapt to a radically shrinking aerospace industry.© BloombergWith airline customers fighting to survive and unable to accept new aircraft, Airbus is juggling its delivery schedul while reasssing its long-term outlook for the aerospace industry, Faury told staff in a letter st Friday and se by Bloomberg . A plan to slash production by one-third announced earlier this month may not reflect the worst-case scario, he said.Load Error“We’re bleeding cash at an unprecedted speed, which may threat the very existce of our company,” Faury wrote. “We must now act urgtly to reduce our cash-out, rtore our financial balance and, ultimately, to regain control of our dtiny.”Airbus declined to commt on its internal communications. The company’s shar were trading down % at 9:5 a.m. in Paris on Monday.The European manufacturer and its U.S. rival Boeing Co. are trying to Show less Read more
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