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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."

July 31, 2020 / 02:47 PM IST

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.

COVID-19 Vaccine

Frequently Asked Questions

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How does a vaccine work?

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.

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PTI
first published: Jul 31, 2020 02:41 pm