CATHAY TO TRIM JOBS
Plan will involve consolidation of sales, marketing, cargo and airport-based ops
CATHAY Pacific Airways Ltd plans to cut jobs at its overseas operations as part of the company’s three-year restructuring efforts, the South China Morning Post reported.
The airline’s plan would involve the consolidation of its overseas sales, marketing, cargo and airport-based operations, said the newspaper, citing a source it didn’t identify.
Cathay, which has about 7,600 employees based in 100 locations outside of here, Kong, declined to reveal how many would be affected or which markets they were from, according to the report.
Following the new design of Cathay’s head office structure, it was reorganising other teams to enable quicker and better informed decisions to be made, said the carrier.
An internal memo had been shared with employees on the restructuring and the work would continue over the coming months, said Cathay.
The aim was to establish a structure that “modernises our ways of working and thinking, makes us leaner and more agile”, said Cathay, without referring to any job cuts.
Chief executive officer Rupert Hogg, appointed in May last year, was trying to turn around the airline’s fortunes as it faced growing competition from budget carriers and rivals in neighbouring China.
He cut 600 jobs, here, last year and had taken delivery of new aircraft to help Cathay become more competitive.
As part of the restructuring plan, the airline will reduce costs by HK$4 billion (RM2 billion) over three years.
About HK$1 billion was expected to come from scaling back pilots’ benefits and allowances, said the newspaper.