Lufthansa Planning Thousands Of Job Cuts: Sources [Barron's]
AIR FRANCE-KLM ADS (AFLYY)
NASDAQ:AMEX Investor Relations:
airfranceklm.com/en/contacting-investor-relations-department
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Source: Barrons
The group's profits tumbled nearly a fifth in 2024 due to problems ranging from a string of walkouts to aircraft delivery delays. Advertisement - Scroll to Continue Two sources, speaking on condition of anonymity, confirmed to AFP that Lufthansa was planning to axe up to 20 percent of its administrative staff. The Handelsblatt financial daily, which also reported on the job cuts, said the group employs some 15,000 office staff. Its total workforce currently numbers around 103,000. Lufthansa -- whose carriers also include Eurowings, Austrian, Swiss and Brussels Airlines -- declined to comment when contacted by AFP. But the group's shares jumped over three percent in Frankfurt after reports emerged of the plans, which follow growing investor concerns about the airline giant's flagging profitability. Advertisement - Scroll to Continue Lufthansa is planning to update investors on its strategy and outlook on Monday. Gerald Wissel, an aviation expert at Airborne Consulting,
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