Britain's EasyJet To Axe Up To 30% Of Its Workforce
Fahad Shabbir (@FahadShabbir) Published May 28, 2020 | 12:45 PM
LONDON, (UrduPoint / Pakistan Point News / WAM - 28th May, 2020) British low cost airline 'EasyJet' said it planned to cut up to 30 percent of its staff, or 4,500 jobs, and shrink its fleet, to fit the smaller market it expects to emerge from the collapse in air travel due to COVID-19, reported Reuters.
EasyJet, which employs over 15,000 people in eight countries across Europe, said it would launch a consultation process with its staff in the coming days, acting later than many of its airline peers to announce job cuts as a result of the pandemic.
The novel coronavirus has brought airlines across the world to their knees, grounding planes and forcing them to make tens of thousands of job cuts as they prepare for a travel market which will take three years to recover.
Ryanair, EasyJet's bigger low cost rival, British Airways and Virgin Atlantic have over the last month announced 18,000 job cuts between them.
EasyJet over the last month has been grappling with an investor vote on management strategy as well as a cyber attack.
The company said on Thursday that it was planning to fly around 30 percent of its capacity later this year, and that it expected to shrink its aircraft numbers to around 302 planes, about 51 aircraft lower than it had been planning for 2021 prior to COVID-19.
It said it was focused on taking out cost, and that discussions with lessors to raise new funds were ongoing. It guided that proceeds from those talks would now be in the range of 500 million Pounds to 650 million pounds, slightly higher than guidance given in April.
Related Topics
Recent Stories
PTI to stage nationwide protests against alleged electoral frauds
Senate continues discussion on Presidential address to Joint Sitting of Parliame ..
Masood Khan calls for Pak-US cooperation for regional peace
Interior Minister starts Margalla Trail Patrol for security
Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 26 April 2024
Today Gold Rate in Pakistan 26 April 2024
ICC Womens T20 World Cup Qualifier, Match 2: Ireland Women open with Comfortable ..
Robinson, bowlers help New Zealand go 2-1 up against Pakistan
Shahzeb Chachar to hold khuli kachehri on April 26
Heatwave amid Israel's aggression in Gaza brings new misery, disease risk
Tourism must change, mayor says as Venice launches entry fee
Court adjourns Judicial Complex attack case till May 17
More Stories From Middle East
-
UAE announces ‘Zero Bureaucracy Program’ to reduce bureaucracy
3 months ago -
COP28 President-Designate welcomes Transitional Committee agreement to operationalise Loss and Damag ..
6 months ago -
Global Media Congress 2023 to feature Co-Production Majlis as a new networking platform
6 months ago -
Young female athletes shine at Abu Dhabi World Youth Jiu-Jitsu Championship
6 months ago -
King of Jordan receives Abdullah bin Zayed and ministers participating in Arab coordination meeting
6 months ago -
Abdullah bin Zayed participates in coordination meeting of Arab foreign ministers, joint meeting wit ..
6 months ago
-
3rd annual conference of Emirates Society of Clinical Microbiology kicks off in Dubai
6 months ago -
SIBF 2023 hosts Nobel laureate to discuss emergence of ‘Afrofuturism’ in global discourse
6 months ago -
ALC announces winners of Kanz Al Jeel Award 2023
6 months ago -
SIBF turns spotlight on remarkable contributions of women
6 months ago -
Global assets in spot bitcoin ETFs hit $4.16 billion
6 months ago -
Rescuers struggle to find Nepal quake survivors as deaths reach 157
6 months ago