EADS eyes job cuts in new division

European aeronautics group EADS is planning to cut up to 20 per cent of the roughly 40,000-strong workforce at its newly created Airbus Defence & Space division, German news agency dpa reported last night, citing “informed sources”. A company spokesman declined to comment and said there would be more details announced on 9 December when EADS is expected to announce restructuring plans for the division. The Airbus parent, in which France and Germany each hold 12 per cent of the shares, said in July that it could not rule out job cuts as a result of combining its defence and space units. EADS said at the time the move could lead to restructuring charges later in the year. The defence and space activities are now undergoing a review and the group could sell off small units that are easily segregated, it said in September.