Asian airline strikes 8,500 jobs

 Hong Kong Aviation Group Cathay Pacific Group announced today, Wednesday, its intention to write off 8,500 jobs in an attempt to save its air activities, while it will immediately stop the activities of its regional branch, Cathay Dragon, against the backdrop of the devastating repercussions of the Corona virus pandemic on the aviation industry in the world.

It is expected that 5,900 jobs will be removed from these jobs directly, while 2,600 jobs will be removed by keeping them vacant and not filled, which will reduce the total workforce of the aviation group by nearly a quarter.

The group said the restructuring plan also includes halting any new hires, with the potential to lay off about 5,300 employees in Hong Kong.

Meanwhile, Cathay Pacific Group is seeking to take advantage of its low-cost airline, Hong Kong Express.

Augustus Tang, CEO of the group, said it had done everything it could to avoid job cuts, but its losses reached between 1.5 billion and 2 billion Hong Kong dollars (190 and 258 million US dollars) despite all efforts.

These measures announced today will save the group 500 million Hong Kong dollars a month, Tang said in a statement.

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