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. Some 2,500 of the job cuts will be administrative posts in Germany,Franz said in a conference call. The company said it would try to find the cuts "preferably by meansof socially responsible measures" but Franz noted that compulsoryredundancies and site closures could not be ruled out. On Wednesday, the airline said that it suffered a net loss in thefirst quarter of 2012 as the soaring price of jet fuel more thanoffset a rise in passenger numbers. The company posted a net loss of 397 million euros in th

e firstthree months of the year, more than the 336 million euros expectedby analysts, with the operating loss at 381 million euros, abouttwice as much as in 2011. Despite the setback, the airline confirmed its 2012 forecast forstronger sales and an operating profit of around 500 million euros. Shares in Lufthansa saw modest gains after the announcement but by1430 GMT, they were down about 1.72 percent with the DAX blue-chipindex off 0.42 percent. The group employs 16,800 people in its administrative departmentsaround the world, 11,500 of them in Germany, financial directorStephan Gemkow 

said. Lufthansa said it also planned to save 200 million euros from thisyear by regrouping its purchasing activities which currently areconducted separately by its different companies. The group also includes Swiss and Austrian Airlines. It foresees savings of up to 100 million euros from this yearthrough greater cooperation between Lufthansa and its subsidiary,Germanwings, the airline said. High jet fuel costs have hit Europe's airline sector across theboard. Scandinavian airline SAS also announced on Thursday that itsfirst-quarter losses had nearly doubled and said it would step up acost-cutting programme. - AFP/de. I am an expert from ipl-laser-machine.com, while we provides the quality product, such as Sunvision Tanning Bed , China Medical Co2 Laser, IPL Laser Machine,and more.