EADS outlines plan for defence and space restructuring
EADS has presented a restructuring plan for its future Airbus Defence and Space Division (Airbus DS) to the European Works Council. This presentation follows a decision by the EADS Board of Directors in July this year to consolidate the defence and space businesses of the Group into one new Division and to rebrand EADS into “Airbus Group”.
“We need to improve our competitiveness in defence and space – and we need to do it now,” said Tom Enders, Chief Exec- utive Officer of EADS. “With our traditional markets down, we urgently need to improve access to international customers, to growth markets. For that to work, we need to cut costs, eliminate product and resource overlaps, create synergies in our operations and product portfolio and better focus our research and development efforts. That’s what the restructuring and integration plan for our defence and space business is all about.”
Overall, EADS plans to reduce (headcount) 5,800 positions at Airbus DS and in corporate/headquarters functions until the end of 2016. Timing and sizing of a one-off charge related to this plan is under evaluation.