Factories in Germany, France, Spain, and the U.K. will be shuttered as the European Aeronautic, Defense & Space Co. (EAD) executes some of its steepest job cuts since its creation. The job cuts total about 15% of the workforce or 5,800 jobs, including both permanent and temporary positions. While its commercial wing, Airbus, is doing well, its military division is languishing as European demand for military aircraft diminishes. The company?s CEO is has indicated that the cuts could be even deeper in the future should the Eurofighter Typhoon sell worse abroad than expected or union negotiations be harsher than anticipated.
See "EADS Defense Unit Marginalized by Airbus Must Cut to Survive", Andrea Rothman & Robert Wall, Bloomberg News, December 9, 2013