LATAM laying off 2,700 crew
Latin America’s biggest airline group is shrinking.
LATAM, is laying off at least 2,700 crew in Brazil as it restructures the business to stay afloat.
LATAM filed for bankruptcy in the US as passenger traffic plunged by 95%.
The layoffs amount to a reduction of about one third of its crew.
It says the job cuts are necessary after pilots and flight attendants’ union wouldn’t accept proposed pay cuts.
"The Covid-19 pandemic is the biggest public health crisis in history, and is dramatically affecting the entire world aviation industry," the company said in a statement.
It is offering voluntary separation packages this week and if there are not enough takers, compulsory layoffs will follow.
The company says LATAM crew are paid above average salary for the region, so it must shrink the wage bill to survive
"The current crisis has made it more essential than ever," the airline said.
Before the pandemic LATAM had a workforce of 43,000, with most based in Chile and Brazil.
The airline is hoping to restructure an estimated $18 billion in debt.
by Ray Montgomery, US editor
TravelMole Editorial Team
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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