Dec. 9 - European aerospace company EADS is reportedly planning to cut between 5,000 and 6,000 jobs and sell its Parisian headquarters as part of a restructuring program. Sonia Legg reports.
There's been plenty of opposition to EADS restructuring plans from employees. Thousands of staff took part in several demonstrations in Germany last month. (SOUNDBITE) (German) EADS EMPLOYEE, PETER STOERECKER, SAYING: "I think what is happening here is just not right. We make a profit, we are working at full capacity. I don't know what's going on." As many as 6,000 jobs could be about to go - that's 5 percent of the European aerospace company's total workforce. France's Le Figaro newspaper has published the claims. It also says EADS will sell its Paris headquarters. The job losses will come from voluntary redundancies or retirements rather than layoffs. And Cassidium, Astrium and Airbus MIlitary will renamed under one new umbrella. Defence accounts for around a quarter of the company's total sales. And the reorganisation is EADS' response to Europe's deep defence downturn. The newspaper estimates it will save between 300 and 500 million euros over the next two years. German hubs as well as French ones are expected to be hit with only Spain escaping - it's already been restructured.