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Airbus Plans 15,000 Job Cuts as Virus Hits Demand for Planes

Jul.01 -- Airbus SE embarked on the most extensive restructuring in its history, setting out plans to cut 15,000 civil-aerospace jobs worldwide as it attempts to steer through the crisis brought on by the coronavirus pandemic.

The European manufacturer will eliminate more than 10,000 positions across its main bases in Germany and France, part of an 11% reduction in global headcount, according to a statement on Tuesday. Caroline Connan reports on "Bloomberg Markets: European Open."