Share

Lufthansa to slash 3 500 jobs

Frankfurt - Germany's top airline Lufthansa said on Thursday that it intended to shed 3 500 administrative jobs in the next few years as part of a radical cost-cutting programme.

The unprecedently steep cuts were intended to reduce administrative costs by a quarter, the airline said in a statement.

Cuts in staff costs overall would amount to about one-third of the savings under the cost-cutting scheme announced at the beginning of the year, it added.

The German giant is undergoing an overhaul in the wake of fierce competition from budget airlines and said in February it aims to save €1.5bn by 2014.

"We can only safeguard jobs for the long term and create new openings if we reorganise the administrative functions and accept job losses now," Christoph Franz, its chief executive, said in a written statement.

On Wednesday, the group said it suffered a net loss in the first quarter of 2012 as the soaring price of jet fuel more than offset a rise in passenger numbers.

The company posted a net loss of €397m in the first three months of the year, more than the €336m expected by analysts polled by Dow Jones Newswires.

We live in a world where facts and fiction get blurred
Who we choose to trust can have a profound impact on our lives. Join thousands of devoted South Africans who look to News24 to bring them news they can trust every day. As we celebrate 25 years, become a News24 subscriber as we strive to keep you informed, inspired and empowered.
Join News24 today
heading
description
username
Show Comments ()
Rand - Dollar
18.99
-0.2%
Rand - Pound
24.11
+0.0%
Rand - Euro
20.61
-0.1%
Rand - Aus dollar
12.38
+0.4%
Rand - Yen
0.13
+0.4%
Platinum
902.37
-2.3%
Palladium
1,004.75
-0.1%
Gold
2,155.09
-0.3%
Silver
24.96
-0.3%
Brent-ruolie
86.89
+1.8%
Top 40
66,027
-0.3%
All Share
72,208
-0.3%
Resource 10
53,305
-0.0%
Industrial 25
99,749
-0.7%
Financial 15
16,627
+0.0%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Editorial feedback and complaints

Contact the public editor with feedback for our journalists, complaints, queries or suggestions about articles on News24.

LEARN MORE
Government tenders

Find public sector tender opportunities in South Africa here.

Government tenders
This portal provides access to information on all tenders made by all public sector organisations in all spheres of government.
Browse tenders