Australia’s Qantas cuts 6,000 jobs over COVID impact

Australia’s Qantas is cutting 6,000 staff and grounding 100 planes for up to a year in a US$10 billion cost-cutting blitz in response to the COVID crisis, the airline announced Thursday.

CEO Alan Joyce said the three-year plan to save Australia’s flag carrier from “the biggest crisis our industry has ever faced” would also see more than half the company’s remaining 23,000 staff remain on leave for months.

Australia’s Qantas is cutting 6,000 staff and grounding 100 planes for up to a year in a US$10 billion cost-cutting blitz in response to the COVID crisis, the airline announced Thursday.

CEO Alan Joyce said the three-year plan to save Australia’s flag carrier from “the biggest crisis our industry has ever faced” would also see more than half the company’s remaining 23,000 staff remain on leave for months.

In addition to the Aus$15 billion in cost-cutting, the plan includes raising up to Aus$1.9 billion (US$1.3 billion) in equity.

The company also announced that it would extend the contract of Joyce, Australia’s highest-paid CEO, until the completion of the plan. (AFP)