Airbus to shed 3,700 jobs across Europe


Two troubled aircraft programs are catching up to Airbus.

The company announced Wednesday that it would move or cut 3,700 positions because of reduced demand for its A380 superjumbo and A400M troop carrier.

It said the changes would affect workers in France, Germany, Spain and the UK.

Airbus will make only six A380s per year starting in 2020. Production of the A400M will fall from 15 this year to eight in 2020.

Boeing's big European rival said that it would be able to "propose opportunities" to most of the employees affected by the job cuts.