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Cathay Pacific to cut 8,500 jobs and ends Cathay Dragon
Published on: 2020-10-22
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cathay 01Cathay Pacific is to slash up to 5,900 jobs and shutter its Cathay Dragon subsidiary. Including a recruitment freeze and natural attrition, 8,500 positions will disappear in total. Joining a growing list of airlines making swingeing cuts as they reel from the coronavirus pandemic.

Across the globe, airlines have been hammered by the pandemic slashing international travel and they face a long, hard winter after a much-hoped-for rebound failed to materialize.

On Wednesday, Cathay Pacific published a corporate restructuring plan that will lead to thousands of job losses and one of its airlines to disappear completely.

Employees walk past signage for Cathay Pacific and Cathay Dragon near the citys flagship carrier check in counters at Hong Kong International AirportEmployees walk past signage for Cathay Pacific and Cathay Dragon near the city's flagship carrier check-in counters at Hong Kong International Airport

"The global pandemic continues to have a devastating impact on aviation and the hard truth is we must fundamentally restructure the group to survive," CEO Augustus Tang said in a statement.

"We have to do this to protect as many jobs as possible and meet our responsibilities to the Hong Kong aviation hub and our customers."

Bosses said 5,300 redundancies would be made among the airline's Hong Kong-based employees with a further 600 losses overseas — the equivalent of 17 percent of its total workforce.

Cathay Dragon, a subsidiary that primarily flies shorter-haul flights within Asia, will cease operations.

The company is seeking regulatory approval to absorb Dragon's routes into Cathay Pacific and its budget airline HK Express.

国泰港龙航空停止运营,国泰航空宣布裁员8500人

香港老牌航空龙头国泰21日宣布重组计划,全球裁员多达8500人,其中香港有5300人,在香港社会引发震动。

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