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Cathay Pacific layoffs|The layoff plan will be announced as soon as this week, or about 4000 employees will be involved

2020-10-18T16:00:55.302Z


The new crown pneumonia epidemic is raging around the world. With the implementation of "customs closure" prevention and control measures in many countries, the tourism industry has almost ceased, and airlines have also fallen into an unprecedented "ice age". It is accused of paving the way for layoffs, and news of substantial layoffs has recently spread. "Hong Kong 01" received news that the number of layoffs this time may reach 4,000. The South China Morning Post also quoted news today (18) that Cathay Pacific hopes to announce its restructuring plan, including layoffs, by Friday (23), but the government hopes that Cathay Pacific can provide more generous plans to the laid-off employees. "Hong Kong 01" contacted Cathay Pacific. A spokesperson for Cathay Pacific said that he would not comment on various speculations and rumors in the market.


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Written by: Yuan Shu Liang Delun

2020-10-18 23:52

Last update date: 2020-10-18 23:52

The new crown pneumonia epidemic is raging around the world. With the implementation of "customs closure" prevention and control measures in many countries, the tourism industry has almost ceased, and airlines have also fallen into an unprecedented "ice age". It is accused of paving the way for layoffs, and news of substantial layoffs has recently spread.

"Hong Kong 01" received news that the number of layoffs this time may reach 4,000.

The South China Morning Post also quoted news today (18) that Cathay Pacific hopes to announce its restructuring plan, including layoffs, by Friday (23), but the government hopes that Cathay Pacific can provide more generous plans to the laid-off employees.

"Hong Kong 01" contacted Cathay Pacific. A spokesperson for Cathay Pacific said that he would not comment on various speculations and rumors in the market.

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News: About 4,000 layoffs

According to sources, Cathay Pacific has laid off about 4,000 employees, which is similar to Singapore Airlines’ previous layoffs.

In addition, there is news that frontline air and ground crews are at "high risk," and that the internal flow of employees for the first 3 years and 3 years before retirement is the "primary target", and the impact between engineering departments is relatively minor.

As for pilots, it is pointed out that Cathay Pacific intends to abolish the old pilots who received a basic salary at an earlier time, while the new pilots, which are based on the number of flights, will be less affected.

There is also news that Cathay Pacific will announce its layoff plan as soon as Monday.

"South China Morning Post": Knowing whether you have been laid off as soon as Friday does not rule out further layoffs

The South China Morning Post also quoted news today that Cathay Pacific hopes to announce its restructuring plan, including layoffs, before Friday, that is, Cathay Pacific employees will know whether they have been laid off before Friday.

In addition, the government hopes that Cathay Pacific can provide more generous solutions to the laid-off employees.

According to reports, Cathay Pacific has formulated a plan to lay off only some employees in order to prepare for a rebound in aviation demand in the future. However, if demand does not rebound as expected, Cathay Pacific may cut more employees in the future.

Cathay Pacific: No response to rumors and speculation

The reporter asked Cathay Pacific about the incident, and a Cathay Pacific spokesperson replied that he would not comment on various speculations and rumors.

Earlier, Cathay Pacific Air Services staff met with Cathay Pacific’s management several times to express their desire to survive the difficult times with the company and also hope to retain their positions.

The union has proposed extending voluntary unpaid leave and re-launching the "half-time flight plan". It also hopes that even if the company intends to lay off employees, it can first launch a voluntary severance plan and provide severance pay or long service payment to employees.

However, no consensus was reached at the meeting.

It is rumored that Cathay Pacific will lay off employees or cut salaries by 40% from next Tuesday: Do not comment on rumors

Cathay Pacific rumored to lay off staff | The union is rumored to start next Tuesday: no rumors have been heard

Cathay Pacific layoffs | Cathay Pacific Union meets with employers, no progress

Tourism bubble | Cathay Pacific once soared 7% Hong Kong and Singapore reached preliminary agreement on tourism bubble

Cathay Pacific announces layoffs | Cathay Pacific Union initiates joint signing to urge first to consider unpaid leave and retain the most positions

Dismantling | Cathay Pacific was criticized for "crossing the bridge" and "indiscriminate" layoffs hurt Hong Kong people

Cathay Pacific layoffs | Dragonair union sees no consensus among management. Union: Wangganglong retains position

Cathay Pacific Airways Cathay Pacific lays off new crown pneumonia

Source: hk1

All news articles on 2020-10-18

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