CEMAC zone: recession could reach 6% according to BEAC

All the indicators are certainly not red. But most of the economic indicators in the six countries of the Economic and Monetary Community of Central Africa (CEMAC) are already found the Monetary Policy Committee (CPM) of the Bank of Central African States (BEAC) at the end of the second annual session on June 24, 2020 in Yaoundé.

Analyzing the situation in Central Africa, it emerges that in the short and medium terms, the CEMAC zone is affected by the health crisis and the fall in the prices of the main export products. "

"In the first half of 2020, the revival of productive activities was slowed down in the sub-region by the disruption of supply circuits for imported products as well as by the restrictive measures adopted by the various governments to contain the effects of the pandemic. Although it is premature for the moment to fully grasp the impact of COVID-19 on national economies, it is already anticipated during this first semester a drop in production as well as a det…

Coronavirus: Rolls-Royce aircraft engine maker to cut at least 9,000 jobs

Aircraft engine manufacturer Rolls-Royce announced on Wednesday May 20 that it will cut "at least" 9,000 jobs.
Rolls-Royce aircraft engine maker to cut at least 9,000 jobs

In a press release, the group justifies its decision by evoking the "unprecedented" impact of Covid-19 on the air sector, one of the most affected by the economic fallout from the pandemic. It is becoming "increasingly clear that it will take several years for the commercial aeronautics market to return to its levels of a few months ago", justifies the manufacturer.

The planned cuts represent 17% of a total workforce of 52,000 people. They will mainly affect civil aviation activities, a little administrative functions, but not the defense branch. Rolls-Royce specifies that its "major" restructuring, accompanied by cost reductions "in factories and assets, capital and indirect [costs]", should in total save 1.3 billion pounds (1, 45 billion euros). Some 700 million will come from layoffs. The group had also already canceled the payment of a dividend.