Cathay Pacific announces cuts

Eleanor Steed
By Eleanor Steed April 3, 2017 18:19

Cathay Pacific announces cuts

Cathay Pacific Airways is preparing to make cuts of HK$4bn (US$510m) in savings over the next three years, reports the South China Morning Post.

The airline has started a three-year restructuring exercise following the loss of HK$575mil last year.

Cost cutting measures will include cuts in management jobs, a pay freeze for managers, all non-critical recruitment halted and a 30% cut in staff costs at its headquarters.

Eleanor Steed
By Eleanor Steed April 3, 2017 18:19