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.
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.
Frequently Asked Questions
A vaccine works by mimicking a natural infection. A vaccine not only induces immune response to protect people from any future COVID-19 infection, but also helps quickly build herd immunity to put an end to the pandemic. Herd immunity occurs when a sufficient percentage of a population becomes immune to a disease, making the spread of disease from person to person unlikely. The good news is that SARS-CoV-2 virus has been fairly stable, which increases the viability of a vaccine.
There are broadly four types of vaccine — one, a vaccine based on the whole virus (this could be either inactivated, or an attenuated [weakened] virus vaccine); two, a non-replicating viral vector vaccine that uses a benign virus as vector that carries the antigen of SARS-CoV; three, nucleic-acid vaccines that have genetic material like DNA and RNA of antigens like spike protein given to a person, helping human cells decode genetic material and produce the vaccine; and four, protein subunit vaccine wherein the recombinant proteins of SARS-COV-2 along with an adjuvant (booster) is given as a vaccine.
Vaccine development is a long, complex process. Unlike drugs that are given to people with a diseased, vaccines are given to healthy people and also vulnerable sections such as children, pregnant women and the elderly. So rigorous tests are compulsory. History says that the fastest time it took to develop a vaccine is five years, but it usually takes double or sometimes triple that time.