Cathay Pacific to cut 6k jobs, axe Cathay Dragon brand amid Covid: Report
Hong Kong’s Cathay Pacific Airways Ltd will cut around 6,000 jobs or 18% of its workforce, and axe regional brand Cathay Dragon to help it weather the coronavirus pandemic, the South China Morning Post reported on Tuesday, citing sources.
The airline said in June it was reviewing its strategy in light of the travel downturn, with “tough decisions” to be announced during the fourth quarter and analysts expected it would announce major job cuts.
In June, the Hong Kong government led a $5 billion rescue package for the airline, which has been burning through around HK$1.5 billion to HK$2 billion of cash a month.
The South China Morning Post said the airline was expected to announce the job cuts on Wednesday, adding the figure had been reduced from 8,000 layoffs after government intervention.
