EADS, the main European aerospace group, kicks off the restructuring plan of its businesses in the Defense and Space sectors which will entail a reduction of 5.800 jobs 'by the end of 2016'. This was announced by the group in a note which explains that the plan was presented today to the European Enterprise Committee.
“We need to improve our competitiveness in space defense – said CEO Tom Enders in a note – and we need to do it now. With our traditional markets in decline, we urgently need - he adds - to improve access to international clients and growing markets. To make this happen, we need to cut costs, eliminate product and resource overlaps, create synergies in our operations and product portfolio, and better focus our research and development efforts. The restructuring and integration plan for our defense and space business is made up of all these things.
