Cathay Pacific to cut 600 jobs, including 190 management staff

cathay-pacificHONG KONG: Hong Kong’s flagship carrier Cathay Pacific Airways Ltd is to sack nearly 600 staff in its biggest round of job cuts in 20 years, the South China Morning reported on Monday.

Some 190 management jobs will be cut immediately while a further 400 non-management staff will be cut by mid-June, the newspaper said, citing sources familiar with the plan.

The cuts are the first step in a three-year program announced earlier this year aimed at turning around losses at the beleaguered airline, the newspaper added.

Cathay Pacific officials were not immediately available for comment.

In March, Cathay Pacific had said in an internal memo that it plans to cut the cost of middle and senior management roles at its Hong Kong head office by 30 percent. The memo came a day after the airline reported its first annual loss since 2008.

Cathay Pacific had in April announced that Ivan Chu would step down as chief executive officer on May 1, and would be replaced by current Chief Operating Officer Rupert Hogg amid a wider leadership reshuffle.