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Title : Airbus Furloughs 6,000 Staff in France and Wales
link : Airbus Furloughs 6,000 Staff in France and Wales

Airbus Furloughs 6,000 Staff in France and Wales

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LONDON --- Airbus has placed more than 6,000 workers in the United Kingdom and France on government-funded furlough programs just days after reportedly warning employees that it was burning cash at a rate that could threaten the company's survival.

The European plane maker said in a statement Monday that it has agreed with unions to furlough 3,200 production workers at its manufacturing site in Broughton, Wales. The UK government will pay 80% of their salaries, up to a maximum of £2,500 ($3,100) per month, under its job retention program.

A similar step has been taken in France, where some 3,000 posts have been furloughed, Airbus said.

CEO Guillaume Faury reportedly told employees in an internal letter on Friday that Airbus was "bleeding cash at an unprecedented rate, which which may threaten the very existence of our company." (end of excerpt)

Click here for the full story, on the CNN website.

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