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EADS to cut 5,800 jobs in Europe in restructuring

Published: 10 Dec 2013 - 10:51 am | Last Updated: 28 Jan 2022 - 07:47 pm

BERLIN: European aerospace giant EADS, the maker of Airbus aircraft, announced plans yesterday to cut 5,800 jobs in its defence and space division over three years.
The layoffs, part of a major restructuring in the face of falling orders, will affect the group’s workforce in Germany, France, Spain and Britain, the company said in a statement.
The news came after a meeting of its European works council with chief executive Tom Enders, whose bold plan to merge the conglomerate with Britain’s defence group BAE Systems was torpedoed last year with a surprise veto by Germany.
“We need to improve our competitiveness in defence and space—and we need to do it now,” Enders said, according to the statement.
“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.”
He added: “That’s what the restructuring and integration plan for our defence and space business is all about.”
An industry source said about 2,600 of the jobs cuts would hit Germany, around 1,700 come in France, with some 700 in Britain and another 600 in Spain.
Furloughed employees will be offered redeployment in 1,500 jobs at the company’s Airbus and Eurocopter divisions.

Tokyo Gas to invest in coal power to expand business


TOKYO: Japan’s biggest city gas supplier Tokyo Gas Co is aiming to invest in coal-fired power to expand its business, underlining the country’s increased reliance on the dirty fuel since the crippling of its nuclear power industry.
Tokyo Gas, which currently uses only natural gas at the power plants it owns or holds stakes in, wants to take market share from Fukushima nuclear plant operator Tokyo Electric Power Co by investing in or buying coal-fired power.
Japan cut its greenhouse gas emissions targets in November, primarily because it has burned more coal, as well as natural gas, to fill the supply shortage left after its nuclear power industry was shuttered following the Fukushima disaster.  
Japan’s 10 main utilities consumed nearly 16 percent more coal in the first 10 months of 2013 compared with a year ago. Consumption rose 26 percent in October alone.   
“Our task is how we access the coal power business. Taking an equity stake is possible, but we may just receive power (from coal plants),” Tokyo Gas President Tsuyoshi Okamoto told Reuters in an interview on Monday. 
Agencies