Airbus targets 10% cost cuts over global uncertainty and supply snags: Reuters exclusive

The Airbus logo is displayed at the Parc des Expositions de Paris-Nord-Villepinte exhibition centre in Villepinte, near Paris, France. (REUTERS/Benoit Tessier)

PARIS — Europe’s Airbus is telling thousands ​of staff to reduce ‌spending by 10 per cent 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