172@29@17@138!~!172@29@0@53!~!|news|world|dutch-klm-group-to-cut-4500-5000-jobs-due-to-covid-19-pandemic-5626541.html!~!|controller|infinite_scroll_article.php
Moneycontrol
Financial Freedom Offer: Subscribe to Moneycontrol Pro and grab benefits worth ₹15,000/-
you are here: HomeNewsWorld
Last Updated : Jul 31, 2020 02:47 PM IST | Source: PTI

Dutch KLM group to cut 4,500-5,000 jobs due to COVID-19 pandemic

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."

PTI

Dutch carrier KLM said on Friday that 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 won't 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.

Close

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 euros ($4 billion) in loans offered by the Dutch government to help the company navigate the crisis.

Follow our full coverage of the coronavirus pandemic here.
First Published on Jul 31, 2020 02:41 pm
Sections