January 30, 2014 / 7:50 AM / in 4 years

Thales Alenia Space to cut 300 jobs in France -newspaper

PARIS, Jan 30 (Reuters) - Thales Alenia Space aims to cut around 300 jobs in France, or about 7 percent of its 4,300 staff in the country, financial daily Les Echos reported on Thursday.

The joint venture between Italy’s Finmeccanica and France’s Thales plans the job cuts as part of a cost-cutting drive unveiled in December which will also affect units in other countries, the daily said.

The number of job cuts could increase or decrease depending on whether the company meets its target of selling three communications satellites this year, the newspaper said.

A spokeswoman for Thales Alenia Space said the cuts would be met through voluntary redundancies.

The company has 7,500 employees in France, Italy, Spain, Belgium, Germany and the United States, according to its website.

It aims to cut costs by 20 percent by mid-2015. Its sales have suffered from a strong euro and a tough European aerospace industry.

Airbus Group is also restructuring its defence and space activities and plans to shed more than 5,000 jobs.

Reporting by Natalie Huet and Alexandre Boksenbaum-Granier; editing by Jason Neely

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