PARIS (Reuters) – Airbus is holding off taking a charge for 2,500 newly announced job cuts in its Defence and Space unit as it assesses their financial impact, the company told analysts on Wednesday. “We are currently in the early-stage assessment of the potential financial impact and a restructuring provision is expected to be recognised […]
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Airbus says assessing financial impact of job cuts
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PARIS (Reuters) – Airbus is holding off taking a charge for 2,500 newly announced job cuts in its Defence and Space unit as it assesses their financial impact, the company told analysts on Wednesday.
“We are currently in the early-stage assessment of the potential financial impact and a restructuring provision is expected to be recognised once necessary conditions are fulfilled,” investor relations head Helene Le Gorgeu said in a pre-results webcast made public on the planemaker’s website.
Headcount in the main civil jets business rose more slowly in the third quarter than in the second, weighing less on profitability, she added in the 10-minute presentation, which marks the start of a ‘quiet period’ ahead of Oct. 30 results.
(Reporting by Tim Hepher; Editing by Jan Harvey)