News Headline Summary

FT writes: "EADS (EAD FP) to cut as many 6,000 jobs, close Paris HQ"

EADS is to cut between 5,000 and 6,000 jobs within its defence business and close its Paris headquarters, as chief executive Tom Enders presses forward with restructuring the pan-European aerospace group as defence spending wanes.

The cuts are less deep than unions had feared and job cuts will be voluntary, making it more likely EADS will secure the approval of unions, which is particularly important in Germany

Reaction details (10:06)

- Co. shares unreactive, down 0.08% at EUR 50.04 last.

Analysis details (10:06)

- It was reported this morning that the company intends to clarify today its austerity plans for its aerospace and defense technology units, which should probably deplete several thousand jobs according to industry sources.

09 Dec 2013 - 09:59 - Important - Source: FT

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