Airbus warns staff on jobs with its 'survival at stake' [Reuters (UK)]
Boeing Company (The) (BA)
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Source: Reuters
Airbus warns staff on jobs with its 'survival at stake' - Reuters 4 Min Read PARIS (Reuters) - European planemaker Airbus ( AIR.PA ) issued a bleak assessment of the impact of the coronavirus crisis, telling the company’s 135,000 employees to brace for potentially deeper job cuts and warning its survival is at stake without immediate action. In a letter to staff, Chief Executive Guillaume Faury said Airbus was “bleeding cash at an unprecedented speed” and that a recent drop of a third or more in production rates did not reflect the worst-case scenario and would be kept under review. Airbus said it did not comment on internal communications. The letter was sent to employees late on Friday, days before the company is due to give first-quarter results overshadowed by a pandemic that has left airlines struggling to survive and virtually halted jet deliveries since mid-March. Airbus has begun implementing government-assisted furlough schemes starting with 3,000 workers in France, “but we
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