Swiss Air Staring at an Imminent Job Cut Says CEO

The Chief Executive Officer of Swiss International Airlines Ltd Dieter Vranckx says they could be conducting an additional job cut in the second quarter of the year as the pandemic continues to bite the airline industry hard all over the world.

The chief executive revealed this information during an interview with a Swiss newspaper SonntagsBlick. Back in October the airline laid off 1,000 workers out of its labor force of around 9,000 employees. Vranckx says they are yet to settle on the number of workers they will be laying off in the upcoming job trim.

From the 1,000 announced positions, we completed 500 of the job cuts through the end of 2020. How many additional positions we will potentially have to cut is something I can answer only in the second quarter. We’re in the middle of the analysis,” said the CEO.

Swiss air is a subsidiary of German leading airline Deutsche Lufthansa AG (ETR: LHA). The company says even when the pandemic cools down it expects business to still be low because cooperates will opt to do more video conferencing than travelling for physical meetings.

Switzerland approved a 1.5 billion Swiss franc ($1.60 billion) relief package for the country’s airline industry. Vranckx says this is enough at the moment adding that planes flying are making profits now and the cargo business is greatly picking up as well.

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