Cathay Pacific slashing 400 jobs as part of redundancy plan
Cathay Pacific is laying off about 400 staff at its Lantau headquarters, the biggest cut in two decades, as part of its recently revealed redundancy plan, the Post learned Thursday. The layoffs are expected to be carried out by June 22, a month after the plan was announced. On May 22, the company said 600 of 3,000 head office jobs would be cut with no department spared except for frontline staff such as pilots and cabin crew. “The majority of affected employees will be informed of changes or a cessation to their role today and over the next month, with most of the restructuring completed by the end of 2017,” according to Cathay Pacific’s statement at that time. The airline is seeking HK$4b in savings over the next three years, with HK$2b targeted for this year. The 400 jobs affected are non-managerial in nature and account for 18 per cent of non-management positions. Those laid off will receive a package of 12 months salary, extended medical benefits and counselling, the company said.<br/>
https://portal.staralliance.com/cms/news/hot-topics/2017-06-09/oneworld/cathay-pacific-slashing-400-jobs-as-part-of-redundancy-plan
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Cathay Pacific slashing 400 jobs as part of redundancy plan
Cathay Pacific is laying off about 400 staff at its Lantau headquarters, the biggest cut in two decades, as part of its recently revealed redundancy plan, the Post learned Thursday. The layoffs are expected to be carried out by June 22, a month after the plan was announced. On May 22, the company said 600 of 3,000 head office jobs would be cut with no department spared except for frontline staff such as pilots and cabin crew. “The majority of affected employees will be informed of changes or a cessation to their role today and over the next month, with most of the restructuring completed by the end of 2017,” according to Cathay Pacific’s statement at that time. The airline is seeking HK$4b in savings over the next three years, with HK$2b targeted for this year. The 400 jobs affected are non-managerial in nature and account for 18 per cent of non-management positions. Those laid off will receive a package of 12 months salary, extended medical benefits and counselling, the company said.<br/>
