Cathay plans job cuts overseas amid competition from China rivals

Cathay Pacific offered a voluntary early retirement package to employees in Japan as part of a 3-year restructuring effort to revive earnings growth. Cathay is undergoing a “comprehensive review” of regional organisation including Northeast Asia, which consists of Japan, Taiwan and Korea, the airline’s Japan office said. Employees in Japan were briefed on the general outline of the new organisation at a July 23 meeting, where the voluntary early retirement program was also announced, it said. CE Rupert Hogg is trying to turn around Cathay’s fortunes in the face of growing competition from budget carriers and Chinese rivals. Cathay -- which cut 600 jobs in Hong Kong last year -- would be looking at restructuring overseas operations after the efforts in its home city, chairman John Slosar said in August last year. <br/>