Lufthansa to cut 3,500 jobs in draconian cost-saving - Sunvision Tanning Bed - China Medical Co2 La
Lufthansa to cut 3,500 jobs in draconian cost-saving - Sunvision Tanning Bed - China Medical Co2 La Business,Business News,Business Opportunities FRANKFURT: Germany's top airline, Lufthansa, announced plans onThursday to shed 3,500 administrative jobs as part of a radicalcost-cutting programme amid soaring jet fuel prices and stiffcompetition. The unprecedented cuts, which will take place worldwide over thenext few years, aim to reduce administrative costs by a quarter,the airline s aid. "We can only safeguard jobs for the long term and create newopenings if we reorganise the administrative functions and acceptjob losses now," Christoph Franz, its chief executive, said in awritten statement. The German giant is undergoing an overhaul in the wake of fiercecompetition from budget airlines and said in February it aims tosave 1.5 billion euros ($2.0 billion) by 2014. Cuts in staff costs overall would amount to about one third ofthose overall savings, the company said. Som