A Closer Look

Lufthansa | Still evaluating but 3,000 job cuts rumored

Deutsche Lufthansa AG said it was still evaluating how many jobs it would cut in a cost-reduction programme, in response to a report that Germany’s biggest airline plans to axe about 3,000 administrative jobs.

German mass-circulation paper Bild earlier reported that Lufthansa planned to cut half of a total of 6,000 administrative jobs around the world, with 1,500 jobs to go in Frankfurt.

The remaining administrative jobs are to be moved to a new business unit, with longer working hours and less pay, the paper said, citing an internal document.

“We always said that we do not explicitly rule out job cuts,” a spokesman for Lufthansa said.

Lufthansa aims to cut costs by 1.5 billion euros ($1.98 billion) by the end of 2014 to squeeze profit margins out of a business that is battling high fuel prices, fierce competition of low-cost carriers and Middle East airlines and a weak European economy…

Source:

Read More @ UPDATE 1-Lufthansa denies has firm plans to cut 3,000 jobs | Reuters.

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