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    DDEP: Government hopeful bondholders will register for programme

    5 important things to know about the African Continental Free Trade Area agreement

    DDEP: Non-participation will prolong efforts to revive economy – Ofori-Atta

    We need IMF bailout in March or economy will crash – Ofori-Atta to pensioners

    Idris Elba adds Ghana to the list of African countries he wants to partner with

    Twitter is reportedly planning to charge businesses $1,000 per month to keep gold verified checks

    Pensioners to picket at Finance Ministry over DDE

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    Nigeria ranks number one globally for cryptocurrency usage and ownership

    Gold-for-oil: Govt spent $40m on first consignment – NPA

    Come clean on gold-for-oil ‘fiasco’ – COPEC to govt

    Ghana paid cash for 40,000 tons of oil instead of gold – Egyapa Mercer confirms

    $130bn and $170bn needed annually to bridge Africa’s infrastructural gap – Bawumia

    Government and Association of Banks reach agreement on DDEP

    DDE: Banks secure 5% coupon for 2023; other revisions

    Cocoa bill payment; BoG, COCOBOD others agree to roll over maturing investments

    AfriCatalyst to host conference on use of Special Drawing Rights to accelerate economic transformation

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    Twitter is reportedly planning to charge businesses $1,000 per month to keep gold verified checks

    Ghana withdraws $672m back-tax demand from MTN Group

    MTN to fight $773m tax bill from government

    Telcos to implement 1% E-Levy charge from today

    Huawei Equips 500 Traders in FinTech

    Africans urged to bolster adoption of Bitcoins

    What does 2023 hold? Predictions in payments for the year ahead for Africa

    Meta considered building a Twitter competitor to capitalize on Elon Musk’s ‘crisis’ at company

    E-commerce in Ghana – statistics & facts

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    5 important things to know about the African Continental Free Trade Area agreement

    $130bn and $170bn needed annually to bridge Africa’s infrastructural gap – Bawumia

    Feed Africa Summit: African Development Bank to commit $10bn to make continent breadbasket of the world

    Nigeria’s national debt hits an all time as the country struggles with repayment

    What does 2023 hold? Predictions in payments for the year ahead for Africa

    Nigeria set to stop importation of refined oil and refine its own oil by 2023

    EIU analysts forecast grim economic outlook for Africa in 2023

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Largest aircraft manufacturer Airbus, cuts 15,000 jobs as COVID hits aviation hard

July 1, 2020
in INTERNATIONAL, News
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Airbus is to cut 15,000 jobs as it faces “the gravest crisis this sector has ever experienced”.

The world’s largest manufacturer of aircraft is just one of a many companies to announce drastic cuts as the airline industry attempts to survive amid the coronavirus crisis, which brought much of the world’s air travel to a halt in March.

Airbus, based in the Netherlands, announced on Tuesday evening it was reducing its worldwide workforce by 11%, or 15,000 jobs.

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Around 5,100 jobs will be cut in Germany, 5,000 in France, 1,700 in the United Kingdom, 900 in Spain and 1,300 at the group’s other sites around the world.

In the wake of the coronavirus pandemic Airbus, which cut its production rates by more than a third in April, said it intends to “resize its business in commercial aviation”.

Guillaume Faury, Airbus’s executive chairman, said the company was “faced with the gravest crisis this sector has ever experienced”.

Airbus saw its share price hit a record high in January this year, just before the coronavirus pandemic caused havoc on the aviation industry.

Unite, a manufacturing union in the UK, called the job cuts an “yet another act of industrial vandalism”.

“Over the weeks of this crisis, this country’s aerospace jobs have gone hand over fist yet not one word of support or act of assistance has been forthcoming from the government, said the union’s assistant general secretary Steve Turner.

“The UK government is watching from the sidelines while a national asset is destroyed.”

The French finance ministry Bercy said the cuts were “excessive”.

“We expect Airbus to make full use of the instruments put in place by the government to reduce the number of job cuts,” Bercy said in a statement to AFP.

Source: Euronews
Tags: AirbusAircrafts
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