Air France-KLM

Type
Internal restructuring
Country
European Union
Region
Location of affected unit(s)
Sector
Transportation / Storage
Land, Water And Air Transportation
Air Transport
51 - Air transport
3,000 jobs
Number of planned job losses
Job loss
Announcement Date
20 May 2009
Employment effect (start)
1 June 2009
Foreseen end date
31 December 2011

Description

Air France-Klm is to cut 3,000 jobs by the end of 2011. The Financial Year 2008-9, presented on 19 May 2009, showed a net loss of EUR 814 million. The loss is mainly due to the declining performances registered in the fourth quarter and linked to the recent economic crisis. Business traffic and cargo were especially affected. For this reason, the company decided a further cost-saving plan that envisages further 3,000 job-cuts by the end of 2011. The workforce will be reduced by economic incentives for early retirement, recourse to part-time and telework contracts and the non-replacement of staff.

Sources

  • 20 May 2009: Il Sole 24 Ore

Citation

Eurofound (2009), Air France-KLM, Internal restructuring in European Union, factsheet number 68950, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/68950.