650 jobs to go in Aer Lingus cuts; MISERY 1.Byline: DEMELZA DE BURCA TROUBLED Aer Lingus Aer Lingus is Ireland's national airline. Based in Dublin, it operates 41 Airbus aircraft serving Europe, Africa, North America and the Middle East. The airline is 28% owned by the Irish government; it was floated on the Dublin and London Stock Exchanges on 2 October 2006, will today announce a severe package of cutbacks including up to 650 job losses. The airline must amke savings of more than EUR EUR In currencies, this is the abbreviation for the Euro. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 100million a year. Sources suggest the 650 jobs would go and 'reasonably soon,' though on a voluntary redundancy basis. The source added that trade unions and employees will be briefed before details are made public of the extent of the cuts. While pilots, cabin crew and flight operations staff will be hit, there will also be extensive job losses in administration and possible outsourced ground activities. There is also the possibility of an across-the-board pay cut of up to 10%. In addition, there is the possibility of a significant cutback cut·back n. 1. A decrease; a curtailment: "The political effects of food cutbacks could be devastating" New York Times. 2. of the pension scheme, which has a serious deficit. As yet, there are no details of whether Aer Lingus intends to cut more routes to save money. The board was expected to meet last night to sign off on the final details of the package. If the Aer Lingus restructuring strategy lives up to these expectations tomorrow, it will trigger further industrial unrest at the airline. Delegates at the Siptu conference in Tralee warned yesterday that there will definitely be strikes before December's budget. |
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