PARIS, May 19 (Reuters) – Europe’s Airbus is telling thousands of staff to reduce spending by 10% as global uncertainty and supply chain problems continue to squeeze its core jetliner business, three industry sources said.
The “cost-containment” order targets non-industrial spending in the commercial aircraft business and headquarters and comes on top of a two-year-old cost-saving project called LEAD.
The previously unreported latest measures have been in place for several weeks and take aim in part at the use of outside contractors, traditionally a key part of the group’s resources, the sources said.
Airbus declined comment.
(Reporting by Tim Hepher; Editing by Emelia Sithole-Matarise)
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