Fri Jan 16th, 2009 at 07:33:33 PM EST
SPIEGEL ONLINE has posted a very intriguing article on Airbus that, on the surface, seems like superficial pro-corporate fluff. But it's either unintentionally revealing, or there's more to it. The relevant part:
Calm Skies: Airbus Flies in the Face of Recession Winds - SPIEGEL ONLINE - News - International
Airbus is counting on European export credit agencies -- quasi-governmental banks that help finance export deals -- to provide financing for about half of Airbus deliveries this year, twice the normal level.
At the same time, Airbus executives say that a two-year-old cost-cutting program, known as Power 8, has yielded benefits that make layoffs unlikely. The company has slashed annual operating costs by more than $1.7 billion and is on track for more than $2.5 billion in additional savings by 2012, Chief Operating Officer Fabrice Brégier said on Jan. 15. Already, the company's full-time workforce has been cut from 54,000 to 47,600, with some of those positions shifted to temporary workers or subcontractors.
Continued below the jump.
That's likely to help the company, whose competitiveness has been badly dented by the euro currency's strength against the dollar. Airbus also plans to outsource a record 50 percent of major work on its next planned aircraft, the A350, including substantial work in lower-cost venues such as China, Russia, and North Africa.
seek launch aid for this aircraft. In addition to relying on the state-funded quangos of France and Germany to facilitate the financing of most of their sales.
And if that isn't enough, the top link from SPIEGEL partner BusinessWeek (shown on the same page in an odd case of synchronicity) brings some news from the far side of the United States:
Boeing to Rein in Dreamliner Outsourcing - BusinessWeek
Boeing (BA), beset by repeated snarls that have delayed commercial deliveries of its 787 Dreamliner into early 2010, is rethinking the global outsourcing model that critics say has caused much of the nearly two-year holdup. The company is making plans to bring more work back in-house.
To be brief: the dots to connect here are obvious. The only question is, when are Sarkozy and Merkel going to step in?