Airbus says to cut 1,164 jobs to boost performance

European aircraft manufacturer Airbus on Tuesday said to slash 1,164 posts as part of its major restructuring scheme to face competition.

The planemaker plans to cut 1,164 job in 2017 expected "to affect support and integrated functions as well as the CTO (Chief Technology Office) organisation," the group said in a press release.

In a bid to invest in developing core competences, Airbus pledged to create around 250 jobs.

In addition, Airbus said to move its headquarters from Paris and Munich to Toulouse in southern France accompanied by the transfer of 325 positions.

"This is a logical and necessary step... It supports operations, group-wide collaboration and the digital transformation, which we are embarking on and which is a matter of utmost strategic priority for our entire company," said Tom Enders, Airbus' Chief Executive Officer.

"With these leaner structures, we will improve performance and teamwork across Airbus. Therefore, the integration will ultimately strengthen Airbus in its ability to ensure future competitiveness and to remain a global leader in the aerospace industry," he added.

In September, the European aircraft maker unveiled an internal merger with its planemaking arm, Airbus Commercial Aircraft, scheduled for January 2017.

Last year, the group, including Airbus, Airbus Defence and Space and Airbus Helicopters, saw its revenues at 64.5 billion euros(68.51 billion U.S. dollars) and employed a workforce of around 136,600.(1 euro = 1.062 U.S. dollars) Endit