European plane maker Airbus announced Wednesday that it will cut 10,000 jobs over the next four years, in an attempt to save 5 billion euros (6.6 billion dollars U.S. dollars) by 2010.

The aircraft maker said in a crisis statement that it will sell or close Varel and Laupheim production sites in Germany and Saint-Nazaire-Ville site in France.

Across Europe, 4,300 job cuts will go in France, 3,700 in Germany, 1,600 in Britain and 400 in Spain. Half of the redundancies will be made among the 56,000-strong Airbus work force and remainder from subcontractors, CEO Louis Gallois said.

The Toulouse-based company also plans to open its Meaulte plant in France, Nordenham in Germany and Filton in Britain to new investors.

This restructuring plan aims at helping the company overcome costly delays to its A380 superjumbo and the effects of a weaker U.S. dollar, Airbus said.

Source: Xinhua