Cathay Pacific planning more job cuts
Cathay Pacific Airways plans to expand its restructuring efforts with job cuts likely at overseas locations around the world.
The South China Morning Post reported it will consolidate overseas sales, marketing, cargo and airport operations functions in some cities, with an unspecified number of jobs lost, according to an unnamed source.
This will ‘modernize our ways of working and thinking, makes us leaner and more agile," Cathay said in an emailed response, without giving any further details.
The airline is in the middle of a major restructuring to turn around its fortunes due to the growing market share of budget carriers and mainland China airlines.
Cathay cut 600 jobs in its Hong Kong HQ last year.
The airline posted a net loss of HK$1.26 billion in 2017.
As part of its restructuring, Cathay is seeking to trim costs by more than HK$4 billion over three years.
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