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Airbus said Tuesday, it will be laying off around 15,000 employees, mostly in Europe, and warned of more thin years ahead.
“With air traffic not expected to recover to pre-COVID levels before 2023 and potentially as late as 2025, Airbus now needs to take additional measures,” the company said in a statement.
Before the end of summer 2021, Airbus will be cutting 5,000 workers in France, 5,100 in Germany, 1,700 in Britain, 900 in Spain and 1,300 others at facilities elsewhere.
“Airbus is facing the gravest crisis this industry has ever experienced,” the company’s CEO, Guillaume Faury, said in the statement.
Airbus recorded no sales in May and reported 481 million euros ($515 million) in losses in the first quarter.