Kenya Airways to cut 15% of staff as part of turnaround plan
Kenya Airways said it will cut about 600 jobs as part of a plan to return the airline to profit after it reported the largest loss in Kenyan corporate history last year. “We will embark on a restructuring process that will result in approximately 600 members of staff being declared redundant or redeployed elsewhere,” the airline said Thursday. The company currently employs about 4,000 people, according to its annual report. The airline is already shrinking its fleet size by almost a third, to reverse the US$253m annual loss it reported in July. The measures are part of a reorganisation plan developed by McKinsey & Co. Last month, the airline appointed PJT Partners Inc. to advise on how to restructure the company’s balance sheet and raise long-term financing. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2016-04-01/sky/kenya-airways-to-cut-15-of-staff-as-part-of-turnaround-plan
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Kenya Airways to cut 15% of staff as part of turnaround plan
Kenya Airways said it will cut about 600 jobs as part of a plan to return the airline to profit after it reported the largest loss in Kenyan corporate history last year. “We will embark on a restructuring process that will result in approximately 600 members of staff being declared redundant or redeployed elsewhere,” the airline said Thursday. The company currently employs about 4,000 people, according to its annual report. The airline is already shrinking its fleet size by almost a third, to reverse the US$253m annual loss it reported in July. The measures are part of a reorganisation plan developed by McKinsey & Co. Last month, the airline appointed PJT Partners Inc. to advise on how to restructure the company’s balance sheet and raise long-term financing. <br/>
