Home Business NewsBusinessAviation Qantas to cut 6,000 jobs to reduce costs by $15bn

Qantas to cut 6,000 jobs to reduce costs by $15bn

by LLB Reporter
25th Jun 20 11:01 am

Australian airline Qantas are to cut around 6,000 jobs and will keep 15,000 workers on extended furlough in an attempt to survive the impact from Covid-19.

The airline are planning to raise fresh capital as Qantas needs to become smaller as they are bracing for lower revenues over the next few years.

Chief executive Alan Joyce said, “The actions that we’re taking will have a huge impact on thousands of our people.

“This is something that weighs very heavily on all of us

“This is something that we don’t make a decision on very easily. But the collapse of billions of dollars in revenue leaves us with little choice if we are to save as many jobs as possible longer term.”

“This crisis has still hit us very, very hard and the impact will be felt for a long time,” he added.

Qantas will reduce costs by $15bn Australian dollars over three years and plan to raise equity of $1.9bn to accelerate recovery for the airline.

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