EADS confirms 5,800 job cuts across Europe

[mhm]

Aerospace and defence giant EADS says it will cut 5,800 jobs as a fall in governments' military spending begins to bite.

The company, which owns Airbus, plans to reorganise its European defence and space businesses.

It says there will be a "substantial consolidation" of sites in Germany, France, Spain and the UK.

In the UK operations will be focused on three sites - Stevenage, Portsmouth and Newport at the cost of around 450 jobs
http://www.bbc.co.uk/news/business-25300010