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British Airways is set to cut as many as 12,000 jobs — about one-quarter of its overall workforce — as the coronavirus pandemic continues to all but eliminate air travel.
The airline’s parent company, IAG, said Tuesday that it needed to impose a “restructuring and redundancy” program until passengers start traveling as often they did last year.
Those efforts still need to be hashed out with labor unions but will likely affect most of British Airways’s 42,000 employees and result in thousands of layoffs, said IAG, which also owns Iberia and Aer Lingus.
“In the last few weeks, the outlook for the aviation industry has worsened further and we must take action now,” the airline’s chief executive, Alex Cruz, wrote in a letter to staff, according to Reuters.
Globally, the airline industry is bleeding billions of dollars in cash, as some carriers face bankruptcy, other seek government aid and more than half of all passenger aircraft have been grounded due to shuttered borders. …continued .
[Source: Washington Post]