New Airbus chief warns of "painful" job losses
(Reuters)
Updated: 2006-10-10 15:06
PARIS - Louis Gallois, the newly appointed head of planemaker Airbus, warned
on Tuesday that there would likely be "painful" job losses at Airbus in the wake
of delays to the A380 superjumbo and a profit warning at the company.
"There will be job cuts," Gallois told France's Europe 1 radio station.
Gallois was named late on Monday as the new head of Airbus after Christian
Streiff resigned following a spell of just three months at the job. He remains
co-head of parent EADS.
Gallois said Airbus' cost-cutting measures would have to be evenly split
between its French and German operations. He added that Airbus now had a more
simplified management structure than before because of his double role.
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