European plane-maker Airbus has announced plans to expand its cost cutting measures.
Parent company EADS said Airbus would seek about one billion euros in extra savings in 2011 to 2012, by expanding production in countries outside the euro-zone. Airbus has struggled to remain competitive with its chief rival Boeing. Its sales are mostly in dollars, but its production costs are in euros and the high Russia says Europe in new arms race ...
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Top EADS executive called summoned over insider trading ... value of the euro has blown out company costs. EADS said there would be no further job cuts in Europe on top of the 10,000 positions already due to be slashed under the so called "Power 8" restructuring plan.
(Deutsche Welle)
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