Cathay Pacific to axe 8,500 jobs due to pandemic

Aviation sector is the worst affected sector because of coronavirus. All nations have banned domestic and international flight operations since March’20 as part of pre-cautionary measure to check coronavirus. Hong Kong flagship carrier Cathay Pacific is ready to sack 8,500 jobs because of covid-19 disaster. 5,300 staff in Hong Kong and 600 employees worked at overseas will be made as redundant.  

Hong Kong flight carrier likely to be decided not to fill 2,600 posts and will be abolished under Cathay’s restructure plan to cope with the pandemic. Cathay Pacific also shut down its regional brand Cathay Dragon on October 21. The measures are part of a global Hong Kong $2.2 billion restructuring plan. Cathay’s passenger numbers have drastically reduced by 99% during the pandemic virus.

Its official that Cathay Pacific Airways was incurred loss of US $1.27 billion during the first six months of 2020. As per the company sources, Airways would still have a significant staff surplus in 2021 despite huge lay-offs. Cathay Pacific Airways is likely to be starting its operations with less than 50% of its regular workforce in 2021. Hong Kong's Cathay Pacific Airways is making deep cuts to its workforce, eliminating nearly a quarter of its overall headcount.