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

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‘Bleeding cash’: Airbus warns of deeper job cuts with ‘survival at stake’
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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