EADS cuts 5,800 Europe jobs

Aerospace giant, EADS, announced plans to cut 5,800 jobs in its defense and space division over the next three years. The layoffs are part of a major restructuring, across Germany, France, Spain, and Britain. The restructuring is part of its efforts to cut costs, eliminate product and resource overlaps, create operational synergies, and improve R&D.

Read the Hindu Business Line news report here.