This article was last updated on April 16, 2022
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Qantas Airlines experiences 83% cut in the profits, thereby announcing to slash 500 jobs, reducing routes, and halting any expansion over the next two years effective immediately.
Qantas Airlines has expressed the reason of such a stringent policy to be the weakened international market and the on-fire fuel costs. Together, both the issues stated are giving the airlines a tough time. In order to avoid any further deductions to the profits, the airline had no choice but to that adopt such a policy.
The announcement was made by the CEO of Qantas, Alan Joyce, who revealed that the net profit figures of the company have come down to $42 million from $241 million in the previous year. He said that the company is analyzing the option of consolidating its offices in Brisbane, Avalon, and Melbourne.
Adding on the job cut decision, he said that no jobs will be transferred offshore and that the jobs announced to cut will come in effect in lieu of the engineering and catering review. There is no specific limit to the job cuts but approximately 500 job cuts will be taking place in departments that are currently under review.
Worker unions are getting furious at the job cuts announced by Qantas. One of the union members called the action “short-sightedness” and said that the workers are “thrown to the dogs”.
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