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Cathay Pacific cutting workforce again with voluntary redundancy scheme
Hong Kong’s Cathay Pacific Airways is planning to downsize again.
The struggling carrier has established a voluntary redundancy scheme for frontline staff including local flight attendants and pilots to take redundancy with compensation of up to six months’ salary.
"We expect that we will continue to operate a very limited schedule in the near term. We must continue to manage our business prudently, balancing the need to manage costs and preserve cash with the need to prepare for the eventual recovery," Director of People Patricia Hwang wrote in an internal memo.
Volunteers opting to leave would be paid between two and six months’ salary depending on length of service.
The airline is already a much smaller business than before the pandemic.
It slashed more than 8,000 jobs last year.
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