United Kingdom
United States
Asia Pacific
Jetset to axe jobs
Tuesday, 18 Jun, 2012
0
Jetset, the travel company partly owned by Qantas, will scrap 110 jobs with a smaller annual profit to be announced.
The company has warned its pre-tax profit will be below the $30.7 million it reported last year due to impairment charges.
CEO Peter Lacaze said in a statement ongoing losses dictated a “detailed review of the resources assigned to that business activity”.
More than half of the jobs being scrapped will be from Jetset’s travel management business.
The travel retailer, whose brands include Harvey World Travel and Qantas Business Travel, is 29% owned by Qantas, while CVC Asia Pacific and UBS have holdings of 27% and 18% respectively.
The company said the job cuts would result in annual savings of about $9 million.
Ian Jarrett
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