KLM to axe up to 5,000 jobs amid Covid-19 turbulence for airlines

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Dutch carrier KLM said it will cut between 4,500 and 5,000 jobs because of the coronavirus crisis.The company said in a statement that in addition to 1,500 job losses, some 1,500 temporary contracts will not be renewed and 2,000 jobs will be suppressed via a voluntary departure scheme.The group also expects “natural attrition through retirement” to help cut an extra 500 jobs.<figcaption class='imgFCap'>A KLM Boeing 737 plane lands at Heathrow Airport (Steve Parsons/PA)</figcaption>A KLM Boeing 737 plane lands at Heathrow Airport (Steve Parsons/PA)KLM said it does not expect demand to fully recover before 2023 or 2024 and said further staff reductions are possible “given the high level of uncertainty”.Earlier this month, the European Commission approved a bailout package of €3.4 billion in loans offered by the Dutch government to help the company navigate the crisis.READ MORENokia hails ‘prudent approach’ in China after better-than-expected results

Source: Business News