Artorius Castus

FACTBOX-Airline job cuts as industry grapples with fuel costs

Posted in Uncategorized by Patrick Truax on July 18, 2008

July 18 (Reuters) – Australia’s biggest airline, Qantas Airlines Ltd (QAN.AX: Quote, Profile, Research, Stock Buzz), says it plans to cut 1,500 jobs or 4 percent of its 36,000 workers as it fails to offset soaring fuel prices. The airline industry is grappling with record high fuel prices and a weakening global economy.

Qantas is the latest to announce job cuts. [ID:nSYD59581]

Below is a summary of cuts announced recently by other major airlines.

* UAL Corp (UAUA.O: Quote, Profile, Research, Stock Buzz), parent of United Airlines, said on July 11 it plans to cut 400 more jobs. It had previously announced plans to lay off 950 pilots, about 600 flight attendants and 1,500 salaried workers.

* Northwest Airlines Corp (NWA.N: Quote, Profile, Research, Stock Buzz) on July 9 said it would cut frontline and management staff by 8 percent. This is about 2,500 job cuts from a global workforce of about 31,000 employees.

* AMR Corp (AMR.N: Quote, Profile, Research, Stock Buzz), parent of American Airlines, said on July 2 it would reduce its employee headcount by about 8 percent. It has about 85,500 employees.

* Air Canada (ACa.TO: Quote, Profile, Research, Stock Buzz), Canada’s largest airline, said on June 17 it would cut 2,000 jobs or 7 percent of its 28,000-employee work force.

* US Airways Group Inc (LCC.N: Quote, Profile, Research, Stock Buzz) said on June 12 it would reduce its work force by 1,700, or about 5 percent.

* Continental Airlines Inc (CAL.N: Quote, Profile, Research, Stock Buzz) said on June 5 it would cut 3,000 jobs, about 6.5 percent of its 45,000 staff. (Compiled by Dhara Ranasinghe; Editing by Louise Heavens)

You will have to go here to see the quotes and figures. They are quite depressing..

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