European aerospace giant EADS has undertaken a restructuring programme which will see a reduction of jobs of around 5,800 in order to create job savings.

The announcement of cuts also included the announcement of the selling of the EADS headquarters in Paris.

The majority of redundancies will be situated in defence and space departments and come as European spending has fallen as countries look to reduce spending.

The move is likely to meet heavy opposition from unions, with union giant Force Ouvriere having already announced its plans to resist the plans.

Shareholders have reacted positively to the announcement with shares rising after the announcement.

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