Business

Airbus cuts 15,000 jobs to face aviation's 'gravest crisis'

European aircraft maker Airbus said on Tuesday it is planning to cut around 15,000 jobs worldwide, 11 percent of its total workforce, in response to the "gravest crisis" the industry has ever seen caused by the coronavirus.

Business

BuzzFeed News to be shuttered in corporate cost cutting move

Pulitzer Prize winning digital media outlet BuzzFeed News is being shut down as part of a cost-cutting drive by its corporate parent that's shedding about 15% of its entire staff, adding to layoffs made earlier this year.

Business

Lufthansa hints at cockpit redundancies in 2021

Lufthansa on Wednesday raised the possibility of redundancies for some of its pilots in 2021, as the slump in world travel due to the coronavirus looks set to last.

Business

Continental launches job cuts, savings drive

German car parts giant Continental said Wednesday it would launch a massive restructuring including job cuts and factory closures, aiming to save hundreds of millions of euros annually in costs.

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