Sponsor Message:
Civil Aviation Forum
My Starred Topics | Profile | New Topic | Forum Index | Help | Search 
Iberia To Cut 9% Of It's Workforce  
User currently offlineSingapore_Air From United Kingdom, joined Nov 2000, 13756 posts, RR: 18
Posted (14 years 6 months 2 weeks 1 day 22 hours ago) and read 1931 times:

Iberia to cut 2,500 jobs as losses loom
By Mark Odell
Published: November 14 2001 14:54 | Last Updated: November 14 2001 15:04

Iberia, the Spanish flag carrier, said it would axe 9 per cent of its workforce as it cuts costs in reaction to the sharp downturn in the global aviation industry.

The company told unions it plans to cut 2,516 jobs as part of a wider restructuring, which includes an 11 per cent capacity reduction and a freeze on aircraft deliveries, in a bid to save Pta27bn ($142m) by the end of 2003.

The decision has been expected by its 27,000-strong workforce and follows similar moves by almost all major airlines in both Europe and the US.

The announcement followed a warning by Iberia on Monday that the crisis gripping the industry could push it into operating losses for the full-year, its first since the government agreed a rescue plan for the airline in 1994.

It remains unclear if the job losses include the 1,400 ground staff that Iberia said it planned to lay off by the end of 2003 in its prospectus for its initial public offering earlier this year.

Iberia said if the measures were not implemented it would suffer a loss of Pta46.7bn next year, instead of a projected profit of Pta17.5bn envisaged in its strategic plan.

Anyone can fly, only the best Soar.
Top Of Page
Forum Index

This topic is archived and can not be replied to any more.

Printer friendly format

Similar topics:More similar topics...
Iberia To Cut Jobs And Fleet posted Mon Oct 24 2005 22:40:18 by B742
Iberia To Dubai? Will It Ever? posted Sat May 21 2005 15:27:06 by EK156
Iberia To Washington DC This Summer. It's Official posted Sat Feb 24 2007 11:15:43 by IBERIA747
Austrian To Cut 700-1000jobs And Get Rid Of A330s posted Wed Nov 1 2006 21:28:23 by Tolmachevo
DL To Get Rid Of It's 767-200s And 737-200s? posted Sun Nov 7 2004 18:57:31 by CLT18R
UAL To Cut 12% Of Domestic Flights - Axe 68 Jets posted Wed Oct 6 2004 14:00:48 by BestWestern
Volareweb To Cut 50% Of The Network posted Mon Sep 13 2004 22:44:11 by Airblue
Air Transat To Lay-off 30% Of Its Workforce posted Mon May 5 2003 17:01:37 by FLYYUL
VX To Buy Air Lib (or Bits Of It) posted Wed Mar 5 2003 16:28:14 by Backfire
Condor To Park Half Of It's 757-300 Fleet posted Wed Dec 4 2002 02:32:11 by Android