Deep cleansing breaths needed...photo, New Zealand by Marie-Claire Holmes
This has not been a good day in Europe, with more than 10,000 job cuts announced by the planemaker Airbus. At a press conference in Paris, Airbus director Louis Gallois said the firm is "facing huge challenges" and is "not efficient enough." France will be hardest hit with 4,300 job losses. Germany will lose 3,700 jobs, the United Kingdom, 1,600 jobs and Spain, 400 jobs.
Gallois blamed the prolonged weakness of the US dollar - the currency in which its planes are sold - for the restructuring. He told reporters cutbacks were triggered by production delays to the flagship A380 superjumbo project.
Airbus said compulsory redundancies would not be imposed, with about half the job losses coming from temporary workers or sub-contractors. Unions countered that they would fight the cuts. Airbus plans to cut 10,000 of its 57,000 jobs over the next four years. More work will be transferred to the firm's headquarters and main production facility in Toulouse, France. Wings for Airbus planes will be produced at Broughton in the UK, while Germany will handle cabin and fuselage manufacturing.
Airbus said it is considering the future of three of its 16 European plants - in Laupheim and Varel in Germany and Saint-Nazaire, France. The company is seeking additional investors to share production costs at three sites, including Filton in the UK. Airbus will also outsource more work.
The firm's financial difficulties have been worsened by problems building the A380 super-jumbo plane, already two years behind schedule. Delays to the plane, resulting from wiring problems discovered in 2005, are expected to cost the firm 4.8bn euros. Meanwhile, Airbus must pay compensation to airlines for late delivery of the A380. Some carriers have threatened to cancel their orders.
The company also plans to spend 11.6bn euros on building the A350, a mid-sized aircraft expected to compete with Boeing's 787 Dreamliner. While Airbus insists its prospects are good as demand for air travel increases, in 2006 it received fewer orders for new planes than its rival Boeing for the first time since 2000.
Airbus delayed announcement of job cuts earlier this month, following friction among its national partners, as politicians in the four countries lobbied to protect jobs. In recent years, the company's relationship with its parent company, Franco-German defense firm EADS, has been strained by political infighting and frequent management changes. The French government owns a 15% stake in EADS and has differed with other shareholders, including German car maker Daimler Chrysler. Until recently, Airbus had two chief executives, representing German and French shareholders.
Missing Picassos
Meanwhile, much of Paris is atwitter at the theft of two Pablo Picasso paintings with a combined worth of 50m euros. The paintings were stolen Monday night from Picasso's granddaughter's home in the 7th arrondissement.
Police said the paintings taken were a portrait of the Spanish painter's daughter, Maya with Doll and one of his second wife Jacqueline Roque. Maya Picasso was the painter's second child, born in 1935 to Marie-Therese Walter. Police said there was no evidence of a break-in at the home of Diana Widmaier-Picasso. The organised crime squad of the Paris police force is investigating the theft.
It seems many are losing their jobs everywhere.
Our economy in our area of Ontario has been very hard hit too.
I pray for everyone.
I hope they find the missing art pieces.
Love and hugs and smiles.
Love Jeanne ^j^
Posted by: Jeanne | 02 March 2007 at 12:39
here are some urls of the art stolen. not sure if the full urls will post though...
Maya with Doll
http://www.smh.com.au/news/world/shrewd-crooks-steal-picasso-masterpieces/2007/03/01/1172338750530.html
Jacqueline Roque with Flowers
http://artwork.barewalls.com/artwork/PortraitofJacquelineRoquewithFlowers.html?ArtworkID=262683&thumbs=1&productid=290687
Posted by: AscenderRisesAbove | 02 March 2007 at 12:25
i love it when you wear your reporter hat too.... we heard about the picassos... not the airbus though.. i agree sounds like an inside job ...detective diana...lol
Posted by: diana | 02 March 2007 at 02:51
Tara,
Sad, depressing news!
rel
Posted by: rel | 01 March 2007 at 10:13
The missing Picasso have been a theme in our news as well. I had not heard about the missing jobs, but it might be just me being too busy for much news.
It is sad to think of what this will mean for so many families.
Posted by: Britt-Arnhild | 01 March 2007 at 08:00
Sad about the jobs. Always. Here in our city, my husbands work laid off thousands here and world-wide this last year...So many people are losing their homes here. We were very lucky.
What balls one must have to swipe those paintings?? What will they DO with them? These people live in a whole nother world.
:)
Posted by: Amber | 01 March 2007 at 06:53
WOW this is sad news indeed however. I find it amazing that needed overhauls and safety issues are forcing companies to threaten cancelling....considering the lives that will be held in the balance of this aircraft you would think whatever it takes to make it right would be the course to run.
The story of the Picasso's saddened me when I heard it today we can all hope they will be recovered and family heirlooms, not too mention history will be taken back to where they belong.
XO
Kristen
Posted by: kristen robinson | 01 March 2007 at 06:17
What sad news about the Airbus job losses ... a lot of people will be impacted. I too heard about the Picasso theft ... quite the excitement for the crime squad (and has the makings of a Bond movie!)
Posted by: JanePoe (aka Deborah) | 01 March 2007 at 03:43
Oh no. I can't stand all of this. You are so informative, my goodness!! I think I will come here first before anywhere else from now on....And the Picasso's??? wow.
Posted by: Vanessa | 01 March 2007 at 03:38
Oh no...both is very bad news...I havn`t heard about the paintings....bad
Posted by: Gypsy Purple-Chamara | 01 March 2007 at 03:35
I hadn't heard the Airbus story, though it rings as sadly as the Chrysler lay-offs of late. My feeling is that we are about to hear of more and more......Canada's economy has done well, but it seems like it's time for a downturn.....housing prices especially are so out of whack I can't imagine they can go much higher.
I did hear about the Picasso theft on the news on the way home from work........it most certainly must've been a well planned theft. Now, how in the world are the theives going to get rid of them? I guess there are people in the world with MEGA money who have their own private collections?
Posted by: awareness | 01 March 2007 at 01:50
My heart goes out to all those affected by this - I've walked in their shoes before, with downsizing - and though frightening at the time, it turned out to be for the best. Hope the best will happen for these workers as well.
I have difficulty conceiving how or why someone would steal artwork, let alone such famous works - it's not as though they could hang them openly on their wall - but I guess for some, it's enough to know they have it hidden in a safe deposit box or such. People can be so peculiar...
(Pam's comment made me laugh :)
Posted by: tinker | 01 March 2007 at 01:29
Missing Picasso's?....Ahhhinternational intrigue...Where is the Pink Panther when you need him???
Posted by: pam aries | 01 March 2007 at 00:39
I saw a headline in a newspaper box on the way home, about China shaking up the stock exchange. I daren't read further. I had no idea Airbus was in such trouble. Mismanagement?
As for the Picasso thefts, "no sign of break-in" does not bode well at all....
Posted by: Colette | 01 March 2007 at 00:12
Stunning photo! Sometimes deep breaths are definitely needed! I have seen first hand the trauma of job loss when it hit a very close friend and her husband. Very unsettling times to live through. My heart goes out to all those affected.
I am quite shocked at the Picasso theft...how do they do that? Surely the security would have been top notch? And who buys them? It's not as if they are not well known...
Posted by: nel | 01 March 2007 at 00:09
Horrible news of the Airbus -
I hope some miracle appears -...
and those paintings? How did they mangage
it I wonder? Would they have known the
owner?
Posted by: sophie :)sophi | 28 February 2007 at 22:47
I love it when you go into reporter mode, though I don't mean to make light of either story. That giant Airbus seems like a disaster-in-waiting on many counts. I think they should abandon that project and cut their losses. Poor Picasso's granddaughter---she must be desperate with worry.
Posted by: Laura | 28 February 2007 at 22:37
I feel for everyone right now, I was watching the world financial markets plunge, folks locally plodding the outside of their work, locked out. I saw the Airbus announcement and again it's very disheartening in a world when all I want to do is smile..
I believe in today, I live for now, and smile at the thought of tommorrow, and send blessings to those affected by this..
Oh, and I can't beleive someone was selfish enough to nick 2 picasso's!!
PEace, Kai.
Posted by: kai | 28 February 2007 at 22:30
re: theft. Sounds like it might be someone with access since it was from the family home. Not saying family per se, just someone with access for visiting, working, etc. therefore having knowledge of the home.
Posted by: AnnieElf | 28 February 2007 at 20:58
This can be devastating to these countries economies. Our stock just took a dive and I can't get a straight answer as to why. This picture was perfect to imagine a deep breath!
Stealing those paintings was a travesty!
HUGS
Posted by: Tammy | 28 February 2007 at 19:35
The first part is effecting us, although I really can't say to what extent online.
I just don't understand people stealing these paintings. It's not like a car - they're fairly unique??? People suck sometimes.
Posted by: holli | 28 February 2007 at 18:53