April 14, 2009

Qantas Forecasts Record Second-Half Loss, Plans 1,750 Job Cuts

Qantas Airways Ltd., Australia’s largest carrier, forecast a record second-half loss and will cut 1,750 jobs as demand for business and first-class travel plunges on the global recession.

The job cuts, equivalent to about 5 percent of the workforce, are the deepest since Chief Executive Officer Alan Joyce took over five months ago. Qantas became the latest carrier to defer delivery of the Airbus SAS A380, the world’s largest commercial plane, amid the recession and a drop in premium travel since the collapse of Lehman Brothers Holdings Inc. last year.

Source: Bloomberg

March 25, 2009

Australia’s Qantas to cut 90 senior jobs

Qantas Airways Ltd, Australia’s top airline, moved to rein in costs with another round of job cuts, this time targeting its senior management team, to help it ride out the global financial crisis.

Qantas will shed 90 top management positions adding to 1,500 job cuts announced last year, it said on Wednesday.

The airline said in a statement it would a maintain a salary freeze and make a number of role changes for remaining managers.

Source: Reuters

March 24, 2009

Wales Airbus factory set to lose 250 jobs

A downturn in orders at the Airbus factory at Broughton in Flintshire is to result 250 job cuts, unions have been told.

Officials have been in talks with management at the factory, which employs over 6,000 people, and say the company hopes most, if not all the cuts, can be through voluntary redundancies.

Source: News Wales

March 19, 2009

More job and pay cuts at FedEx as 3Q profit sinks

FedEx Corp. said Thursday it plans to cut more jobs and trim wages again, as the company reported its fiscal third-quarter profit tumbled 75 percent on severe weakness in the global economy.

To further reduce costs, FedEx plans to cut more jobs — although it didn’t say how many. It also plans to scale back some workers’ hours and wages and trim air and truck capacity. The company said it will not shrink its delivery network in any area.

Source: AP

February 26, 2009

Eclipse headed toward chapter 7 liquidation, all 800 employees laid off

Eclipse Aviation Corp., which makes the 6-seat Eclipse 500 very light jet in Albuquerque, said it will not contest a motion by senior secured creditors to convert Eclipse’s bankruptcy proceedings to a Chapter 7 liquidation.

Eclipse had already furloughed its remaining 800 employees on Feb. 18 because of the delays in financing negotiations. At that time, however, the company said it was a temporary move and it expected the deal to close and affected employees to return to work.

In a letter to employees on Feb. 24, Eclipse executives said the furlough had converted to a layoff effective as of Feb. 19, meaning no salaries would be forthcoming for paychecks due on March 5 and all benefits would end as of Feb. 28.

Source: The Business Review (Albany)

February 16, 2009

Air France-KLM to axe up to 1,200 jobs

Air France-KLM is to cut as many as 1,200 jobs after weak ticket revenues and dwindling cargo volumes forced a sharp rise in third-quarter losses to €200 million. The Franco-Dutch group unveiled a cost-cutting program of €1.2 billion. The job cuts, which will include some 450 managers, will be through natural attrition and no one will be fired, spokesman Nicolas Petteau promised.

The Group revealed a reduction of €1.2 billion in costs, half of which are to be put into effect this year, and they plan to cut from 1,000 to 1,200 workers through a hiring freeze, retirement, and voluntary departures. Around 450 managers between the ages of 60 and 65 are being encouraged to retire from the company, even though there won’t be any compulsory redundancies.

Source: Travel Daily News

February 11, 2009

US Airways to cut 233 jobs

US Airways Group Inc. will eliminate 233 fleet-service and passenger-service positions in 10 cities. The company cites reduced flights, the loss of service contracts with other airlines and decreased attrition rates.

The majority of cuts are slated to occur in Las Vegas, Pittsburgh and Tucson, Ariz. Affected employees will be offered jobs at other US Airways’ locations or severance pay.

Source: Charlotte Business Journal

February 10, 2009

GE Transportation to cut jobs as demand falls

According to AP, CNBC: “GE Transportation, a supplier to the rail, marine and mining industries, said Tuesday it will permanently cut 350 workers and temporarily lay off another 1,200 amid a sharp drop in demand.

Erie, Pennsylvania-based GE Transportation, a unit of General Electric Co. that employs about 11,000 people, said that around mid-April it will permanently lay off 200 hourly workers and 150 salaried workers, all of whom work in the Erie area.

In May it will temporarily lay off 1,200 hourly workers, most of whom also work in Erie. GE expects to bring those workers back when demand returns.”

~News submitted by upthecreek

February 9, 2009

FedEx Trims 900 Jobs at Freight Unit on Lower Demand

Filed under: FedEx,transportation,US — DF @ 4:15 pm
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According to Bloomberg: “FedEx Corp., the second-largest U.S. package-delivery company, is eliminating 900 jobs in its freight unit because of declining demand and “aggressive” pricing by competitors.

The cuts, equal to 2.6 percent of FedEx Freight’s 35,000 employees, are in addition to 540 jobs trimmed at the unit late last year and 650 at FedEx’s Office division.”

January 23, 2009

Harley-Davidson to cut 1,100 jobs

Filed under: Manufacturing,transportation,US — 7macaw @ 8:33 am
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Top US motorcycle maker Harley-Davidson said Friday it would slash 1,100 jobs and production capacity as profits tumbled following reduced sales amid a deepening recession.

The Milwaukee, Wisconsin-based company suffered a 58 percent reduction in profit to 77.8 million dollars for the final quarter of 2008 from the same period a year earlier. Worldwide retail sales of the iconic motorcycle maker fell 13.1 percent while domestic sales were down 19.6 percent.

Source: AFP

January 21, 2009

United Airlines to lay off 1,000 more

Filed under: aviation,transportation,US — 7macaw @ 8:19 am
Tags: , ,

United Airlines parent UAL Corp. said its quarterly net loss widened to $1.3 billion as the third-largest U.S. carrier paid above-market rates for fuel after incorrectly betting prices would rise. United said it would cut 1,000 additional jobs.

United’s decision to cut additional management and salaried jobs reflects efforts by carriers to control costs and conserve cash as demand declines in the recession. The airline last year said it would eliminate 6,500 unionized positions and 1,500 management and salaried jobs by the end of 2009.

Source: Bloomberg

January 16, 2009

Delta expects 2,000 more job cuts

Filed under: aerospace,transportation,worldwide — 7macaw @ 8:24 am
Tags: ,

Delta Air Lines Inc, which took over rival Northwest Airlines last year, said it expects about 2,000 staff to opt for an early retirement program as it aims to trim capacity as much as 8 percent this year.

In December, Delta, which has about 75,000 staff worldwide, said it would offer employees severance packages, but it didn’t say how many jobs it aimed to cut.

“We are expecting a number of around 2,000 because the capacity reduction is going to be around 6 to 8 percent,” Delta CEO Richard Anderson told reporters on the sidelines of a media briefing in Tokyo.

Source: Reuters

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