European aircraft manufacturer Airbus said Wednesday it planned to adjust production rates for its A380 and A400M production, a move that would impact thousands of jobs in many European countries.
The France-based plane maker estimates "the maximum impact of these measures will affect up to 3,700 positions at sites across the company's home countries of France, Germany, the United Kingdom and Spain".
The company said it was "confident" it would be able to propose other opportunities to most of the affected employees through programs which are ramping up, saying it was "committed to managing any implications for its workforce in a responsible manner".
Facing fierce competition and slowing demand, the European aircraft maker decided to cut production rates of the A380, the world's largest passenger jet, to six per year from a previous target of 12 aircraft by 2020.
The group also planned to adjust production rates for its A400M military transport plane over the next two years, according to the statement.