EADS set to cut thousands of jobs

European aerospace company EADS is reportedly about to announce restructuring that includes thousands of job cuts and the sale of its Paris headquarters.

Bosses – including Chief Executive Tom Enders – have been meeting with managers and workers’ union representatives to reveal details of the planned cutbacks, which come as European governments spend less on military hardware.

Reportedly as many as 6,000 jobs could go – five percent of the workforce – through voluntary redundancies and transfers as EADS refocuses on its civil aircraft business