Airbus Is Furloughing 6,000 Staff in Europe and ‘Bleeding Cash’

Airbus Is Furloughing 6,000 Staff in Europe and ‘Bleeding Cash’
An Airbus A350 takes off at the aircraft builder’s headquarters in Colomiers near Toulouse, France, on Sep. 27, 2019. Regis Duvignau/ Reuters
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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 percent of their salaries, up to a maximum of £2,500 ($3,100) per month, under its job retention program.