The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Manufacturing Manufacture For Transport Equipment Manufacture Of Other Transport Equipment 30.30 - Manufacture of air and spacecraft and related machinery
450 jobs Number of planned job losses
Announcement Date
9 December 2013
Employment effect (start)
Foreseen end date
Description
Aerospace and defence giant EADS has announced plans to cut up to 450 jobs in the UK as part of a corporate restructuring scheme.
As reported, the job losses are largely blamed on governments' military spending cuts. The UK job cuts (in Stevenage, Portsmouth and Newport) will be the result of the integration of the Astrium, Cassidian and Airbus Military divisions into a single unit.
The cuts will be implemented over the next three years. EADS stated that it plans to implement most of the redundancies via voluntary means.
Sources
9 December 2013: BBC News
Citation
Eurofound (2013), European Aeronautic Defence and Space Company (EADS), Internal restructuring in United Kingdom, factsheet number 76336, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/76336.
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