‘Bleeding cash’: Airbus warns of deeper job cuts with ‘survival at stake’ ...United Arab Emirates

European plane maker Airbus has told its 135,000 employees to brace for potentially deeper job cuts amid the Covid-19 crisis, as the company’s survival is at stake without immediate action. CEO Guillaume Faury said in a letter to staff the company is “bleeding cash at an unprecedented speed” and that the recent drop of a third or more in production rates does not reflect the worst-case scenario and would be kept under review. According to Faury, Airbus has begun implementing government-assisted furlough schemes starting with 3,000 workers in France, but may need “to plan for more far-reaching measures.” The CEO said “The survival of Ai

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