Cathay Pacific denies reports of more job cuts
Cathay Pacific Airways has swiftly denied reports it plans to cut even more jobs just days after announcing 600 jobs will go.
The South China Morning Post had claimed up to 800 positions would be lost but this has been dismissed by the Hong Kong based carrier.
"The number of redundancies resulting from the transformation programme is around 600, as we announced to our people and the public. Rumours of other figures are incorrect," a Cathay spokesperson told CNBC.
Cathay Pacific announced on Monday the job losses are the first step in a three-year reorganisation plan to turn around its fortunes.
The airline posted its first loss since 2008 last year and expects to be in the red again this year.
The job cuts are mostly head office positions with a quarter of management staff going and 18% non-managerial positions being axed.
It is still the largest job cull in 20 years due to the ‘challenging business environment.’
"Changes in people’s travel habits and what they expect from us, evolving competition and a challenging business outlook have created the need for significant change," said new CEO Rupert Hogg.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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