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Report: Airbus to cut or relocate 3600 jobs amid slack production

European aerospace giant Airbus intends to relocate or cut 3,600 jobs in four countries due to the lower production rates of its A380 passenger planes and A400M military transport aircraft, according to a Reuters report citing French business magazine Challenges.

Four sites in Germany, one in Spain and another in the U.K. would be hit by the planned workforce changes at Airbus, the March 2 report said, while its French sites should only be slightly affected since employees there are working on several projects.

Responding to the report, Airbus said in a statement that it will first meet with the European Works Council, or EWC, to discuss the decline in the A380 and A400M production rates and "associated implications for the workforce."

However, Airbus said the recent report on the potential job cuts was "excessive."

"Airbus is committed to managing any social implications in a responsible manner and has demonstrated its ability to find the best possible solutions for its workforce on various occasions in the past," the company said, adding that it will provide further details on its plans following the meeting with the EWC.

When it announced its latest financial results in February, Airbus said it recorded a €1.30 billion charge related to its A400M program in 2017. The company also said it adjusted the production rate of the program to "re-calibrate inventory levels."

Airbus also adjusted the production rate of the A380 program amid weak demand, according to Reuters.