The defense division of EADS, Cassidian, has announced sweeping job cuts as it restructures in a bid to save a further €200 million ($259 million) a year by 2014. Nearly 850 personnel, many in management and administration positions, are to be let go as part of the restructure plans detailed in letters sent to employees on Nov. 30. The move follow the collapse of the highly complex planned merger between EADS and BAE Systems and comes despite the Munich-based company’s steady ...
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