Airbus to meet staff members as possible job cuts loom

PARIS, March 5 (Reuters) - European planemaker Airbus said it would meet European works council members later this week to discuss the possible impact on jobs from a decline in the production rates of the A380 and A400M plane programmes.

Last week, French business magazine Challenges had reported that Airbus was planning to move or cut 3,600 positions as a result of the issues with the A380 and A400M planes.

"Senior (Other OTC: SNIRF - news) management representatives of Airbus will meet with the European Works Council on 7 March 2018 to explain previously announced rate reductions on the A380 and A400M programmes and to discuss associated implications for the workforce," Airbus said in a statement on Monday.

"Airbus deeply regrets that the process on the current subject matter has been disturbed by leaks to the media, which resulted in excessive reporting about alleged job cuts in its four home countries," added Airbus.

Last month, Airbus - whose main rival is Boeing (Swiss: BA-USD.SW - news) - announced a 1.3 billion euros ($1.60 billion) hit from its delayed A400M military plane programme, although that blow was offset by a rise in Airbus' profits and dividend.

($1 = 0.8134 euros) (Reporting by Sudip Kar-Gupta Editing by Bate Felix)