Toulouse, France
The European aircraft giant Airbus said this week it will cut 10,000 jobs—more than 10 percent of its workforce—in its largest restructuring ever. The French and German company, based in Toulouse, will close several factories across Europe. Airbus has been struggling because of constant delays in production of its flagship A380 jet. The firm has lost $6.5 billion on the jet so far, as FedEx, UPS, and other companies canceled orders for the freight version. Unions in France and Germany staged strikes this week and threatened more strikes once the job cuts begin.
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