British Airways to cut a further 5,800 jobs
British Airways (BA) has unveiled a major package of measures designed to return the airline to profitability which will see a further 5,800 job losses on top of the 7,200 already announced. The 13,000 job losses amount to 23 per cent of the carrier’s work force. (2/19/2002)
Other measures include a significant restructuring of short haul flights to compete with no-frills carriers, and a continued reduction of capacity, expected to have fallen 21 per cent by 2003 from the start of capacity cuts in the summer of 1999.
The measures come in the wake of the industry-wide slump following the September 11 terrorist attacks, fierce competition from low cost carriers, and BA’s own huge debt load, following a wide-ranging analysis of its business led by chief executive Rod Eddington.
Author:Newsdesk, eyefortransport.com
